September 23, 2019

Germany’s 54 billion euro ($59 billion) plan to reduce carbon emissions is too small to make a difference, an analyst told CNBC Monday.

The German government announced Friday it plans to tackle climate change with the introduction of a carbon price on transport and buildings, bigger incentives for buying electric cars, higher duties on domestic flights, as well as other measures. The climate package includes extra spending and tax subsidies totalling 54 billion euros between 2020 and 2023. The package, revealed ahead of a climate summit in New York this week, aims to show a commitment to greener policies while also offering a boost to a flagging German economy.

Despite the headline-grabbing figure, Berlin is already being criticized for not being ambitious enough.

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https://www.cnbc.com/2019/09/23/germany-climate-package-of-54-billion-euros-isnt-enough.html