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Climate action The German government wants to establish an international climate club
In the federal cabinet today, Germany’s Finance Minister Olaf Scholz presented a joint key-issues paper for an international climate club. The goal is to give the implementation of the Paris Agreement additional impetus at the international level. At the heart of this initiative is the cooperation between countries that want to press ahead with the social and economic transformation needed to …
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Climate action European Sustainable Finance Summit
As the European Sustainable Finance Summit gets underway, German Finance Minister Olaf Scholz and Environment Minister Svenja Schulze are calling on European companies to invest more in sustainable economic activities. The first survey, published today, on applying the EU taxonomy shows that just 2% of companies’ activities by revenue meet the taxonomy’s level of ambition for climate action and …
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G7 Team of LSE experts led by Lord Nicholas Stern issues report on international climate club
The report looks at how international cooperation in the form of an inclusive climate club can promote climate ambition and facilitate the decarbonisation of industry.
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Climate action Sound financing for effective and socially equitable climate action
Today the federal cabinet has approved the draft supplementary federal budget for 2020 and the draft budget for the Energy and Climate Fund for 2020. Today’s decision has created the budgetary conditions for rapid implementation of the Climate Action Programme agreed by the German government on 25 September 2019.
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Climate action German Sustainable Finance Strategy
Today the federal cabinet adopted the first German Sustainable Finance Strategy. The goal of the strategy is to mobilise investments that are urgently needed for climate action and sustainability while also addressing the climate risks that are increasingly relevant to the financial system. Germany’s Sustainable Finance Strategy is setting a new course in the financial system based on the core …
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Climate action Key-issues paper of a cooperative and open climate club
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Climate action Sustainable Finance Committee takes up work
The German government created a Sustainable Finance Committee on 6 June 2019. The Committee’s purpose is to advise the German government as it drafts and implements a sustainable finance strategy, as well as to pool existing expertise and foster dialogue between the relevant players.
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Climate action German cabinet adopts legislation on phasing out coal
The German cabinet today adopted the Act on the Reduction and Termination of Coal-Fired Electricity Generation and Amending Further Acts (Gesetz zur Reduzierung und zur Beendigung der Kohleverstromung und zur Änderung weiterer Gesetze).
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Public finances Immediate climate action programme for 2022
Germany adopted major new climate legislation in June 2021 that sets higher national emissions reduction targets for 2030 (at least 65%) and 2040 (at least 88%), with the goal of achieving net greenhouse gas neutrality by 2045. In addition, a new €8bn “immediate climate action programme” for 2022 will finance further measures to achieve the new climate targets.
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Climate action Immediate climate action programme for 2022
Germany adopted major new climate legislation in June 2021 that sets higher national emissions reduction targets for 2030 (at least 65%) and 2040 (at least 88%), with the goal of achieving net greenhouse gas neutrality by 2045. In addition, a new €8bn “immediate climate action programme” for 2022 will finance further measures to achieve the new climate targets.