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Climate action program is gold mine for Germany

The German climate action plan will create 430,000 jobs and generate major savings of EUR 274 billion in 2020, concludes PwC in an analysis.

Photo: Dansk Fjernvarme

Germany's climate plan is excellent for business, concludes PricewaterhouseCoopers (PwC), after conducting an analysis of the financial consequences of the German Climate Action program, which was implemented in 2014. Ahead of 2020, the action plan's 107 initiatives will create almost 430,000 new jobs in Germany and increase the German GDP growth by 1 percent, or more than EUR 30 billion.

"The climate action plan has the same effect as an economic growth package and will lead to savings in energy costs, greater local value creation, and more jobs, especially when looking beyond 2020 – which we do in our climate protection plan 2050," says the German Federal Environment Minister, Barbara Hendricks, in a statement.

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