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German workers huddle as a new gas line is laid in the Elbe river. Photo: DPA

New climate change goals to cost Germany €310 billion

Published: 20 Nov 09 16:18 CET
Online: http://www.thelocal.de/money/20091120-23413.html

Germany's ambitious plans to fight climate change will cost Europe's largest economy €310 billion, Manager Magazin reported on Friday.

Berlin wants to set targets at the United Nations conference in Copenhagen this December to reduce fossil fuel emissions from their 1990 level by 40 percent before 2020, the magazine reported.

But a study conducted by business consultancy Deloitte for the magazine’s latest issue found that German industries will have to pony up large sums of cash to comply.

The construction industry will be hardest hit by compulsory cuts in greenhouse gasses in the coming years, having to invest some €150 billion to renovate buildings for energy efficiency, the study said. But rent regulations and the results of the financial crisis will prove to be sizeable hurdles in finishing the job, according to the magazine.

Meanwhile the transportation, logistics and energy sectors will have to make the most structural changes to achieve higher energy efficiency – after already significantly reducing their consumption in recent years, the study found.

They will not only have to implement new technology and use new energy sources, but also fundamentally change their business practices much more quickly than previous adjustments, the magazine said.

The Local (news@thelocal.de)

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Your comments about this article:

17:36 November 20, 2009 by Rossi82
Hahaha... Still can not believe we are having this debate whether climate change exists... I guess it is easier to be naive then to try and the generally scientific accepted science behind climate change.

Also, this attitude of, "well they are not not making an effort then why should we?" is just pathetic... mainly because the western world is to blame for the increased rate of climate change thus to far..., ahh stuff it!.. lets just be able to spend OUR money on s**t we don't really need or want!... Pathetic!

And really! this old argument on how much it cost to manufacture wind turbines and how inefficient they are is really, really old! Please tell me the operational life time of wind turbines? and maintenance cost vs. power output.... don't forget that all important FACT ... OVER TIME!???
21:58 November 20, 2009 by Rossi82
At least as a socialist and environmentalist... I will NOT need to try and explain why to my children, when given the chance I opted to do nothing...!
22:34 November 20, 2009 by barracks
Sorry, but some comments here are just to long that I prepare to read the short one that is direct to the point.
15:02 November 21, 2009 by barracks
what sucks is this very long comments, teaching history, what will happen in the future,etc...etc...sorry but it really confusing the readers.
18:48 November 21, 2009 by canadaguy
Glad to see Germany taking such a leading role. The cost quoted seems like a small price to pay. Ironically many in other western countries are behaving like "Good Germans":

http://www.selfdestructivebastards.com/2009/11/don-be-good-german.html
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