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The Low Carbon Economy Ltd

04 Dec 2008 05:12:47

Green technology 'can help with economic recovery'

Green technology 'can help with economic recovery'
Committing to bringing about the low carbon economy could help the financial systems recover rather than hinder them, according to a report from the German Environment Ministry seen by Spiegel.

Even as John Kerry, who will represent the US at the Poznan climate change dialogue, warns that the financial situation could hinder green development and EU legislators watered down carbon emissions limits on cars, the German news company claims the opposite approach may be necessary.

It says that the report from the ministry claimed that raising CO2 reduction targets to 40 per cent relative to 1990, would lead to the creation of 500,000 jobs.

The paper also points out that carmaker Audi is looking to recruit more engineers next year to reduce the CO2 emissions of its fleet, while Siemens reports sales of environmentally-friendly products rose from €17 billion (£24.74 billion) to €19 billion in a year.

"It is especially important in the economic crisis that the automobile industry focuses on saving energy and on efficiency," Tanja Gonner, the Christian Democrat environment minister in the state of Baden-Wurttemberg, where Mercedes is headquartered, told the newspaper.

"Those that develop cars with low CO2 emissions now will have a great opportunity on the world market of tomorrow."

Her advice echoes the Confederation for British Industry's call for the government to speed up the pace of climate change action rather than slow it down in the face of the recession.

It also comes days after certain automakers received an exemption from CO2 emission limits.



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