in the EU, the volume of investment amounted to 124 billion Euro. The 2.4 gigatons of emissions to be avoided – that is, more than the United Kingdom, Germany, France, Italy and Poland together took a year to launch.

However, for the objective of climate neutrality set by the EU Parliament and the Federal government alike by 2050 on the Agenda, the meet hardly, says Steven Tebbe, Managing Director CDP Europe, in the German newspaper Handelsblatt.

at Least a doubling of investment is necessary, which would bring the companies under the current framework conditions, however, your financial limits. Policy and financial markets would therefore create the right framework conditions, in order to make CO2-carbon investments more attractive.

emissions-intensive industries is of Central importance

Christoph Podewils of the think tank Agora Energiewende know how this would concretely look like and which companies they primarily should address. In an interview with FOCUS Online, he declared that for Germany and thus for the climate in Europe objectives are especially emissions-intensive industries such as cement, chemicals, metals and steel are of Central importance.

they alone of the EU-emissions are 38 percent responsible. In Germany, around one fifth of CO2 emissions falls on the industry. In addition to in-depth measures in the energy sector, such as the recently adopted Coal phase-out by the year 2038, it needs therefore, it is precisely here that sustainable concepts.

FOCUS Online shows 4 measures of the state, the industry and Europe, companies should, in order for the climate targets by 2050 can be achieved.

1. Entry into the hydrogen

Particularly in the steel and chemical industry up to now, the climate-damaging production processes through the increased use of hydrogen is significantly more environmentally-friendly. An important requirement For the hydrogen production must not be exclusively green electricity is used to move the climate damages in the energy sector.

Currently, both sectors have recognized but mainly on fossil fuels (natural gas, oil and coal). Statutory water fuel quotas, for example, natural gas provider, would be from the point of view Podewils is a useful first step.

at the same time, the government should provide the necessary infrastructure so that hydrogen can also be used where it is needed, is it in a Agora-Energiewende-report.

2. The use of technology to promote

Older, and therefore harmful to the climate technologies, in perspective, be new and greener Alternatives replaced, calls the Podewil. All too often, expensive and long-term investments are necessary, which are only be managed with state support.

Podewils calls for an introduction of so-called Contract-for-Difference contracts (CFD). Companies get for investing in CO2-carbon key technologies grants by the state. The transition to new technologies is made easier.

As an example, Podewils called the blast furnaces in the steel industry. The Furnaces auxiliary heating to the operating temperature high, coking coal as the reducing agent used, in order to gain from the raw materials iron ore pig iron.

The use of coke in this process climate, however, is especially harmful. "Instead, the possibility of hydrogen for the reduction of iron ore to use, however," says Podewils. The positive effect for the climate is obviously: "Because as a waste product of climate is only neutral water. The additional costs incurred through investments in the new production process, could be compensated by CFD-contracts.“

3. Public demand for sustainable

make addition to the political initiatives in terms of climate protection, the state must also demand a greater sustainability. The expenditures for public procurement in Germany in 2019, according to an OECD study, at 500 billion euros . "The lever on which the government sits, is accordingly long, if the sustainability criteria would be taken into account," says Podewils.

the Last was, however, hardly the case. Have been taken into account in the year 2015, only 2.4 per cent of public procurement to sustainability criteria. "If the state would use in its construction projects, for example, more and more on climate-neutral steel and cement, would be gained by that much," explains the expert.

4. To seek sustainability principle to the financial markets

Alone, the responsibility for the policy, however, is wrong, says the climate expert. Instead, other areas follow suit, especially the financial sector would have to. Think about it: If, in the future, sustainability criteria are taken into account in the granting of credit more drops, the credit rating of climate sinners on the market. "The company would be forced to commit to more sustainable economies", stresses the Agora-expert.

That such a development is not mere wishful thinking, show the Statements of Black Rock CEO Larry Fink said in its annual CEO letter in January. Black Rock is one of the most powerful asset managers in the world. With almost 7 trillion US dollars, the privately-run Fund management company manages almost twice as much capital as it corresponds to the annual German economic performance.

Fink wrote that they wanted to in the future make sustainability an integral part of the Portfolio creation. Of plants, which represented a significant sustainability risk, as, for example, securities of coal producers, will part with his company, said of the Black Rock chief.

words have weight and contribute to a substantial change can. In the PCP In the

BWI/ Date Of Update: 26 February 2020, 17:00