The consequences of climate change pose economic risks for companies. A recent study by the German Environment Agency (UBA) shows that only about half of the DAX 30 companies report publicly on these risks. None of the 100 largest companies studied provides information on whether the corporate strategy is resilient to stronger climate change. read more
If we are to have any hope of reducing greenhouse gases, we will need to substantially roll back energy use, improve energy efficiency and at the same time ramp up renewable energy production and use. To leverage this potential, we need to institute efficiency measures and optimize renewable energy technologies. But to do this, it is crucial that economic, infrastructure and political obstacles be overcome.
What is the key to the success of climate protection measures? Timely, sustainable infrastructure investments worldwide that will create conditions early on and in a timely manner that will be conducive to adherence to the two degree ceiling. Hence transformation of our economic systems and their underlying socioeconomic structures (energy systems, urbanization and land use) will need to begin at the national level, and then continue based on an across the board sustainable-development paradigm on the global level. As a society, we need to be very clear about the fact that climate protection cannot and will not be achieved through technical solutions alone, and will instead necessitate fundamental transformation of our lifestyles, "mentalités", and values.
In the interest of moving toward achieving these goals, in 2010 the German government adopted an ambitious energy infrastructure transformation program that sets a long term strategy for German energy and climate policy. We at the UBA are supporting this process through our own investigations of long term scenarios aimed at energy efficiency, the use of renewable energy, and energy-infrastructure transformation monitoring. To this end, we are implementing instruments such as carbon trading, the guarantee of origin register, and the "Blauer Engel" seal of environmental quality.