Germany's 'Marshall Plan for climate protection' was instantly dismissed as inadequate
students, Germany’s ministers had to pull an all-nighter to meet a deadline they had known about for months. On September 20th, after the members of the “climate cabinet” had spent 19 hours negotiating in the office of Angela Merkel, the chancellor, they unveiled a set of measures aimed at getting their environmentally wayward country back on track.
The criticism has been withering. Some experts had hoped for an initial carbon price of at least €50 per tonne, eventually rising to over €100, to spur investment in clean fuels and retrofitting buildings, and to encourage a faster shift from the coal plants that provide 29% of Germany’s electricity. Instead, the opening price will be just €10 per tonne in 2021, rising to €35 in 2025, and thereafter trading within a prescribed price “corridor”.
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