Germany is in the middle of a high profile, ambitious energy transition plan, but the country will still fall far short of its carbon reduction targets, according to the Renewable Energy Federation.
In a new study obtained by Handelsblatt, the federation reports that by 2020, Germany will have reduced its carbon emissions by 32 percent, eight percent short of the target set by Berlin. Even more troubling, Europe’s largest economy will have cut its emissions 58 percent by 2050, not nearly enough to comply with the Paris climate accord.
Under the Paris accord, 195 nations agreed to keep global warming under two degrees Celsius. To achieve this goal, carbon emissions must be cut 95 percent by 2050, according to the study.
“The agreement was bought by agreeing to forgo binding goals,” Hubertus Bardt, managing director of the Cologne Institute of Economic Research, told Handelsblatt. “As a consequence, the momentum that everyone is hoping for won’t emerge.”