Business on the local weather summit: Earn cash and keep aggressive | EUROtoday

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As of: December 11, 2023 5:27 a.m

COP28 in Dubai can also be a gathering for business representatives from everywhere in the world whose industries are within the midst of transformation processes. What do firms like Bayer or ThyssenKrupp count on?

Jakob Mayr

Dubai is the most important local weather summit of all time – as a result of, based on specialists, these conferences have developed into implementation festivals: individuals are now not discussing ob you do local weather safety, however slightly How – and German business needs to have a say. And earn cash too.

Stefan Wenzel, Parliamentary State Secretary within the Federal Ministry for Economic Affairs, emphasizes that it might probably meet the necessities of the Paris Climate Agreement: The business is “ready” for the 1.5 diploma goal, he says: “We had business representatives on the SiemensEnergy desk who’re in demand world wide as specialists in energy grids, or ThyssenKrupp, who’ve been constructing electrolysis vegetation for 100 years. That was all the time a distinct segment, now it’s changing into a product in demand worldwide.”

Reduce emissions and develop new applied sciences

ThyssenKrupp operates Germany’s largest steelworks in Duisburg. Overall, metal manufacturing is chargeable for seven p.c of CO2 emissions in Germany. That ought to change by counting on hydrogen to provide iron. ThyssenKrupp additionally needs to assist cement and fertilizer firms scale back emissions with new applied sciences.

The group has concluded agreements to this finish in Dubai, explains CEO Miguel Ángel López Borrego. A “very strong collaboration” between politics and business is important to realize the local weather targets: “This is about establishing partnerships, working with politicians to make partnerships between companies possible and to drive this forward.”

From coal-fired energy vegetation to wind and solar energy

LEAG needs to push forward with its so-called gigawatt manufacturing unit in Dubai. It is one among Germany’s largest electrical energy producers with lignite-fired energy vegetation in Lusatia and plans to construct wind and solar energy programs on former mining areas – with round 7,000 megawatts of output. LEAG CEO Thomas Kramer can also be on the summit: “I am sure that we will see many new products due to the pressure we have to shape the energy transition in the world.”

Agriculture has contributed to local weather change and is struggling massively from the implications. Chemical large Bayer affords options to make vegetation extra resilient to droughts and floods and to scale back emissions – for instance with rice, the cultivation of which causes the greenhouse gasoline methane and makes use of monumental quantities of water.

Bayer chief lobbyist Matthias Berninger refers to his firm’s developments for dry rice cultivation: “We are reducing methane emissions, we need 20 to 40 percent less water to produce the same amount of rice. And it has an access component because small farmers in particular rely on this innovation will be required.”

“We want safety of provide”

The extremely controversial transfer away from fossil fuels in Dubai can also be posing issues for the German economic system. The deputy managing director of the Federation of German Industries (BDI), Holger Lösch, says that what is required is a path with much more renewables. “But we also need security of supply.” And for the time being there’s a scenario in Germany “that I cannot see guaranteed other than with fossils – possibly for a certain longer period of time.”

The BDI is skeptical a couple of fast exit from the usage of coal, oil and gasoline. But there’s a sense of optimism in Dubai with a view to the alternatives for the economic system in local weather safety. “Of course we want to remain or become competitive again in the future, for example in batteries or solar modules,” says State Secretary Wenzel.

If increasingly more firms worldwide produce in a climate-neutral manner, that’s good for the local weather and for the German economic system. Companies from Germany and the EU with excessive necessities are at an obstacle in comparison with firms from third international locations that pay much less consideration to local weather safety and might subsequently produce extra cost-effectively. German firms are subsequently hoping for strategic partnerships between international locations in Dubai for a standard path to local weather neutrality.

Jakob Mayr, ARD Brussels, at present Dubai, tagesschau, December 10, 2023 8:36 p.m

https://www.tagesschau.de/ausland/asien/cop-wirtschaft-100.html