DIHK President Warns Climate Transformation Costs Too High for Private Sector
DIHK President Warns Climate Transformation Costs Too High for Private Sector
Peter Adrian, head of the German Chambers of Industry and Commerce (DIHK), has warned that Germany’s current path to achieving climate neutrality is financially unsustainable for the private sector. According to a DIHK study, the transformation from 2025 to 2049 will cost approximately five trillion euros, raising concerns about the availability of such funds. Adrian emphasized that without international coordination, Germany risks undermining its global competitiveness and failing in global climate efforts. While DIHK supports climate neutrality, Adrian pointed out that major CO₂ emitters like the USA, China, and India have less ambitious climate goals, despite being responsible for 60% of global emissions. He called for new international climate agreements that are more achievable for many countries, including these major emitters, to maintain Europe’s competitiveness. Adrian suggested adjusting Europe’s high climate protection standards during the transition phase to ensure a balanced approach that does not overburden the private sector.