German trade union federation DGB challenges EU’s proposed 2040 climate target
Yasmin Fahimi, chair of Germany’s Confederation of German Trade Unions (DGB), has voiced criticism regarding the European Union’s proposal to implement a new climate goal of reducing CO2 emissions by 90 percent by 2040.
Speaking to the media group Bayern, Fahimi stated that setting new targets at this stage of the transition would not be effective. “Climate neutrality must remain our goal. However, whether we achieve this goal depends not on raising existing targets, but on many practical questions.
The DGB emphasizes the need for support for businesses to invest in decarbonization efforts. Fahimi highlighted the necessity of developing an excellent and affordable infrastructure for renewable energies to maintain competitiveness and foster viable future business models. She argued that prioritizing these practical considerations is more crucial than continually setting higher political goals.
Fahimi also linked climate protection to wealth taxation. She believes that monumental tasks like achieving climate neutrality require collective responsibility and that currently, the wealthiest individuals are not contributing sufficiently to the common good. Therefore, the DGB advocates for a new wealth tax and a one-time wealth levy. The proceeds, she suggests, could be directed into an investment fund benefiting the entire country.
