New climate protection will cost Germany $50 billion until 2023, Vice-Chancellor Olaf Scholz said Friday after the coalition government unveiled a package of measures to cut carbon emissions
BERLIN (Pakistan Point News / Sputnik - 20th September, 2019) New climate protection will cost Germany $50 billion until 2023, Vice-Chancellor Olaf Scholz said Friday after the coalition government unveiled a package of measures to cut carbon emissions."We are talking about massive investments in climate protection. To this end, we plan to allocate over 45 billion Euros," he told reporters.
The announcement was made as tens of thousands protested against perceived government inaction on the climate crisis outside the German parliament in Berlin.
Scholz said the strategy, which his Social Democrats had hammered out together with the conservatives, was the next major step in tackling climate change.
Germany vowed to shut all coal-powered and nuclear plants. The new plan reaffirmed the goal of generating 65 percent of power from renewables by 2030.
The money will come from a designated EU climate fund, Scholz said, as well as from the planned rise in surcharge for plane tickets and greenhouse emissions in the automotive industry.
