News: German industry can become climate-neutral with €52 billion
More than 90% of the CO₂ emissions generated by Germany’s manufacturing industry could be avoided through a major financial effort. According to a study by the credit insurer Allianz Trade, this would require investments of €52.4 billion.
The expenditure would even pay off, according to calculations by Markus Zimmer, senior economist at the company: “To avoid one ton of CO₂ per year, an average investment of €790 is required. At the current CO₂ price, the investment would therefore pay for itself within eight years.”
The “lion’s share” of the investment would fall on the iron and steel industry (€16.7 billion), followed by the pulp and paper industry (€16.3 billion) and the chemical sector (€9.51 billion).
The calculation does not yet include the costs of capturing and storing the remaining emissions. These expenses are estimated to be similar in scale to those required for the first roughly 90% of reductions.
Source: Allianz Trade
