German trade union confederation, the Deutscher Gewerkschaftsbund (DGB), has voiced concerns regarding the European Union’s proposed new climate target of reducing CO2 emissions by 90% by 2040. Yasmin Fahimi, chairwoman of the DGB, stated that setting new targets at this stage of the transition is not helpful. She emphasized that achieving climate neutrality hinges on addressing practical challenges rather than simply raising existing goals.
Speaking to the Bavarian Media Group, Fahimi stressed the need for support for businesses to invest in decarbonization efforts. This includes developing an excellent and affordable infrastructure for renewable energy to maintain competitiveness and foster sustainable business models. She argued that prioritizing these practical considerations is more crucial than continually setting new political objectives.
Furthermore, Fahimi linked climate protection to the implementation of wealth taxes. She asserted that tackling long-term challenges like climate neutrality requires collective responsibility and that currently, the wealthiest individuals are not contributing adequately to the common good. Consequently, the DGB advocates for a new wealth tax and a one-time wealth levy. The revenue generated, according to Fahimi, could be channeled into an investment fund benefiting the entire nation.