German Chancellor Angela Merkel and her coalition have announced a large-scale new climate plan on Friday. In the coming years, € 50 billion will be allocated to combat climate change.
After nineteen hours of meetings, the German government presented a plan to curb emissions from the energy and industrial sectors, encourage the use of electric cars and motivate travelers to fly less and take the train more often.
The coalition negotiated the climate plan all night long. "It was intense, constructive, but sometimes very fun to struggle about the right approach," Chancellor Angela Merkel said on Friday at the press conference about the plan. Merkel had to acknowledge that her government is not going to meet the 2020 climate targets, but she claimed that her government wants to catch up.
In addition, there will be a national trade in emission allowances for CO2 emissions. With this, the government hopes to reduce traffic emissions and the heating of buildings. Emissions trading starts in 2021 with a price of 10 euros per tonne of CO2 and rises to 35 euros per tonne in 2025.
Plan fits within the German budget
The German government will also invest heavily in the infrastructure of the railways. According to the German government, the plan is budget neutral, which means that Germany does not have to build up new debts to implement the measures.
According to German Finance Minister Olaf Scholz, the plan is "about seeing climate change as an opportunity to modernize our economy and thus create jobs with a future perspective."
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Hundreds of thousands of people strike for climate
The news comes out after the climate was discontinued all over the world on Friday. In Berlin, too, eighty thousand people struck the Brandburger Tor.
Yet German climate groups are not completely satisfied. They believe that these government measures do not go far enough. Lisa Badum from the German political party the Greens called the climate plan a "capitulation".