Germany’s rescue package will help the country overcome the worst economic crisis in decades by making its economy greener and stronger, finds new analysis.
Germany’s economic rescue package announced last week is pointing the way for the rest of Europe with its focus on green mobility.
According to a press release from the environmental group Transport & Environment (T&E), Europe’s largest economy will spend €2.2 billion on incentivizing electric cars and car fleets.
The plan also includes €7 billion in hydrogen investments, €2.5 billion for electric vehicle recharging infrastructure and battery manufacturing, €1.2 billion for clean buses and trucks, and €5 billion for the national railway company Deutsche Bahn.
The sustainable housing sector is also set to get a sizeable boost with €2 billion earmarked for energy-efficient houses.
“After France now Germany is pointing the way forward with massive investments in electric cars, recharging infrastructure and railways,” said Stef Cornelis, T&E Germany director.
“This is exactly what’s needed to support jobs and help us emerge stronger and greener from the COVID crisis.”
T&E cautions, however, that the plan isn’t perfect and criticizes Germany’s plan to spend €1 billion of taxpayers’ money on new planes. It believes that airlines should pay for new planes out of their own packets and Germany should instead invest in greener jet fuels.
It also urges the German government to rethink its support for LNG ship infrastructure, which is says is clearly worse for the climate than existing marine fuels.
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