This weekend in Glasgow the COP26 world climate summit will begin. Meanwhile, in Germany, coalition negotiations of the so called 'traffic light parties' (SPD = red, Grüne = green, FDP = yellow) are in full swing. Motto for both events is: no failure allowed, because a great deal depends on the work done over the next few years. Germany, as Europe's largest industrial nation, has a crucial role to play.
There can be no 'business as usual', that's for sure. Climate change has progressed too far for that, and countries have done too little for too long. And it is no longer profitable, as a recent study by the Deloitte Economics Institute found. In the next 50 years, German economy will suffer damages totaling 730 ...