GERMANY'S SELF IMPOSED CLIMATE POLICY - A RECIPE FOR ECONOMIC DISASTER

Here is another good article from Clintel. The climate policies proposed and being followed by some nations is quite remarkable. This article covers a lot of issues, but the one that caught my eye was what is happening in Germany.

 Germany wants to be climate-neutral by 2045 – a self-destructive plan: Germany’s reduction will inevitably be offset by rising emissions in other EU countries. This is because European emissions trading ensures that emission rights that are not used in Germany are used up in other EU countries. 

With its Climate Protection Act, Germany has imposed restrictions on itself that will have a highly painful impact in the coming years. The German Climate Protection Act, cemented by the Federal Constitutional Court, seems like a recipe for economic disaster. It allows Germany only a residual budget of 6.7 gigatons of CO2 from 2020, which is likely to be used up by the early 2030s. According to the law, penalties, shutdowns, and restrictions on freedom will then be imposed in order to meet climate targets. It does not sound like much fun!

Dr Fritz Vahrenholt: Belém highlights the growing gap between climate targets and reality - Clintel