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.
Climate action Climate action publications
All the Finance Ministry’s publications relating to climate action, including a link to the German government’s Sustainable Development Strategy.
Climate action Green federal securities
Climate action is a priority. To boost sustainability in financial markets too, the German government is issuing Green German Federal Securities. This will inject momentum into the sustainable bond market as a whole.
Climate action Climate action is a priority
As a leading industrialised economy, Germany has a special responsibility to take effective climate action. The German government’s wide-ranging package of climate action measures aims to ensure that Germany fulfils its 2030 climate targets and achieves a carbon-neutral economy.
Financial markets Sustainable finance
The COVID-19 pandemic and climate change highlight how important the United Nations’ 17 Sustainable Development Goals (SDGs) are to economic growth and financial market stability. SDG 3 aims to ensure healthy lives for all, while SDG 13 focuses on climate action.
Climate action Phasing out coal to fulfil climate targets
On 29 January 2020, the German cabinet adopted draft legislation on the phasing out of coal in Germany. The bill sets out a detailed roadmap for shutting down coal-fired power stations, which are harmful to the climate. The Federation has allocated €40bn for the structural transformation. The funds will help the affected regions to build new capacity and create new jobs.
Climate action Green bonds: the Bund’s new eco-friendly twin
German Finance Minister Olaf Scholz has announced plans to issue green bonds – federal bonds for environmental purposes. In future, green bonds will be issued alongside conventional federal bonds, with the same maturity and coupon. Scholz believes that this will help Germany to become a leading centre for sustainable finance.
Climate action Climate-friendly tax legislation
Now that the German government has launched the Climate Action Programme 2030, it’s time to implement the proposals contained in the climate package. The German Finance Ministry is working to make tax legislation more climate-friendly so as to alter the way we think about mobility and energy and bring about a change of direction in these areas.
Climate action "Climate policy will shape all policy areas"
On 18 October 2019, Federal Minister of Finance Olaf Scholz gave a speech on climate policy at the Council on Foreign Relations in Washington on the sidelines of the annual meetings of the IMF and World Bank Group in Washington. He made the points that coordinated action against climate change will be the defining issue for foreign policy and that it will become a business opportunity.
On 9 October 2019, the German federal cabinet approved the federal government’s Climate Action Programme 2030, which represents a step towards implementing the Climate Action Plan 2050. The aim is to ensure that Germany meets its climate policy targets. The extensive programme includes measures for all sectors. Progress will be reviewed on an ongoing basis. The Finance Ministry is responsible …