US EditionThe Green Key to Germany’s Economic Recovery | by Gernot Wagner - Project Syndicate
- Germany's Expert Panel for Climate Issues presented a report on May 15 stating the country met its 2024 climate targets by reducing CO2 emissions.
- The report attributes the emissions drop to an economic slowdown, dismantling coal power plants, and challenges in sectors like building heating.
- Key actions included shutting 15 coal-fired plants simultaneously in March 2024 and demolishing a modern plant near Hamburg in November.
- Germany cut 649 million tonnes of CO2, a 3.4% decrease from 2023, but now faces second-highest EU household electricity prices at 0.39 euros per kWh.
- The panel warns high energy costs harm the industrial sector, risking jobs and tax revenue, and stresses that 2030 goals remain viable only if current measures continue.
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The Green Key to Germany’s Economic Recovery | by Gernot Wagner - Project Syndicate
Just as the broader European economy depends heavily on Germany, the continent's industrial powerhouse, Germany's own economy depends on access to affordable power. With geopolitical and climate conditions requiring an urgent transition to renewables, the task now is to develop a politically viable energy strategy.
Germany maintains climate targets – thanks to poor running economy
Greenhouse gas emissions decreased in 2024. However, the Expert Council on Climate Issues warns: The success is mainly due to lower energy consumption due to the weakening economy and the dismantling of coal-fired power plants.
·Dortmund, Germany
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