German companies to invest more money in reducing their CO2 emissions as a company in any other European country. The nearly 900 exchange-European companies have invested in the past year, 124 billion euros in the reduction of their CO2 emissions, or investments announced. 59 billion of that went into low-CO2 technologies, 65 billion in research and development, said the Non-Profit organization, CDP (Carbon Disclosure Project) in Paris. CDP collects data on emissions and climate strategies of companies.
The reported investment of 69 German companies were, therefore, of 44.4 billion euros, with a share of around 36 percent. Second and third place among the European countries, take Spain (37,9 billion Euro) and Italy (24.3 billion). Companies from the UK – the country in November this year’s world climate conference, to be held in the report published on Tuesday, behind France (6.0 billion) and Denmark (4.5 billion) with investments of $ 4.0 billion only on rank six. This is in part due to that in the UK, more and more companies from the service sector with lower emissions, a resident in Germany.
Less investment than 2018
“This report shows that some are taking the transition seriously,” said the managing CDP Europe Director Steven Tebbe. For 2019, reported investments in emission reduction have led probably to a long term of 2.4 gigatonnes of CO2 Equivalent could be saved – the equivalent to the annual emissions of Germany, France, Italy, great Britain and Poland. In comparison to the previous year, the European investments decreased, however, by almost a third, which depends, according to the CDP, especially with larger one-time investment of 2018 together.
Around nine-tenths of the reported investments are in the sectors of Transport, energy and raw materials – including renewable energy or electric vehicles, as the report of the independent Organisation is apparent. It comprises of 882 European firms reported data, their emissions to the CDP information three-quarters of the total EU emissions correspond to. Among them, 69 German companies such as Adidas, BASF, BMW, Deutsche Bahn, E. on, Hochtief, SAP and VW.
investment is still much too low
The 882 companies play according to the CDP, an enormously important role in whether the EU can meet its climate change targets or not. Overall, the level of investment was, however, still too low, complained Tebbe. To achieve the EU climate target for Emissions in 2050 would have to be doubled the capital expenditure for low-carbon technologies, more than. In absolute terms, these investments would have to be increased accordingly, from 59 to 122 billion Euro per year.
From an economic point of view results in one clear sense, said Tebbe. The business opportunities in the development of low-CO2 products and services will be appreciated by the companies to more than 1.2 trillion euros. This value was six Times as high as the associated investment costs.
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