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Economists, activists call for $100 billion climate fund in Germany

BERLIN – Economists, scientists and environmental campaigners on Tuesday called on the German government to create a 100 billion euro ($100 billion) fund to tackle climate change.

Marcel Fratzscher, president of the German Institute for Economic Research, said the money was needed in part because Germany did not invest enough in solar and wind power. Fratzscher says that adequate funding will make the country less dependent on fossil fuel imports, which currently contribute to energy poverty.

“These mistakes need to be corrected now,” he told reporters in Berlin.

The additional tax revenue the German government is receiving due to rampant inflation could go to the fund, which would resemble a similar financial vehicle the government recently created to boost the military. He said that the coffers increased by 29 billion euros in the first half of the year.

The Friday for Future youth movement, which is helping to coordinate a global climate protest planned for next week, backed the proposal.

One of its spokespersons, Luisa Neubauer, said that Germany should take its cues from a bill recently passed in the United States that envisages $375 billion in federal investment to combat climate change. later in the decade.

Volker Quaschning, a distinguished climate scientist at the Berlin University of Applied Sciences in Engineering and Economics, says the 100 billion euros is only a fraction of the total amount needed to turn Germany into an economy. low carbon and make the country more resilient to the effects of global warming.

Part of the money will also be used to help developing countries. Quaschning said events like the recent flooding in Pakistan show that a much larger amount will be needed in the coming years if Germany is to shoulder the responsibility for climate change.

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Follow AP’s coverage of climate and environment at https://apnews.com/hub/climate-and-enosystem

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