Let’s say there was some money left. Because of Corona, you may not have been able to spend it. Now the money is slumbering in an account and producing negative interest. How nice it would be if you could not only invest profitably, but also make a contribution to the climate at the same time.
In the near future, you may have to read the small print more carefully than you already have. Green mutual funds promise to be a big seller for credit institutions in the near future. Good for the climate, for sure, this is how the investment may be certified. Perhaps this is how you unknowingly promote investments with your money that are otherwise occasionally polemicized against: the construction of a nuclear power plant, another gas pipeline, a fast breeder.
The EU’s taxonomy plans are problematic. On the one hand, because the EU distributes labels here that are suitable for fraudulent labeling. But there is also something else that is annoying. During the election campaign, Chancellor Olaf Scholz (SPD) spoke of cheap rail travel, of wind turbines that should be set up everywhere, quickly and unbureaucratically. There is a lack of charging stations for e-cars, and an entire industry has to be converted to climate neutrality.
A lot of money is needed for all of this and there are not a few who doubt that it can all be done as quickly as it is necessary. But if the state and the EU community of states get bogged down and set the wrong incentives by encouraging investments in technologies that are only intended for the transition, you can give it up right away. You don’t become a climate chancellor through announcements. That’s for sure. Olaf Scholz and his government have yet to prove that they are serious about climate protection. A fraudulent label at the beginning suggests nothing good.
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