German parliament and finance ministry ignore huge costs of climate inaction
Germany will likely have to buy emissions rights worth billions of euros for failing EU transport and agriculture climate targets in the 2020s, but parliament and finance ministry appear only dimly aware of this risk, writes Bernhard P枚tter in tageszeitung. The finance ministry only told the paper that a reliable cost estimate was not yet possible, while the parliament鈥檚 budget committee said the topic was 鈥渘ot yet on its radar鈥�.
Germany鈥檚 climate protection targets in the sectors not covered by the EU emissions trading scheme ETS are legally binding under EU law. If Germany does not achieve them, it will have to buy additional emission rights from other EU countries
Read the article in German .
Get background in the article Germany may have to buy way out of EU climate goal - ministry paper.