Search Site

Roche to buy Poseida Therapeutics

The $1.5 billion deal is due to close in early 2025.

BP announces $7bn gas project

The project aims to unlock 3 trillion cu ft of gas resources in Indonesia.

Lulu Retail Q3 profit $35m

For the nine-month period, net profit increased by 73.3%.

Talabat IPO offer price range announced

The subscription will close on 27 Nov for UAE retail investors.

Salik 9M net profit $223m

The company's third-quarter profit increased by 8.8 percent.

Germany uses more renewable energy, still falls short of CO2 goal

For 2022, Germany managed a 39-percent reduction from 1990 levels. (AFP)
  • Europe's biggest economy emitted 761 million tons of greenhouse gases last year, just one ton fewer than in 2021 and overshooting the target of 756 million tons.
  • The German government had aimed to reduce carbon dioxide emissions by 40 percent by 2020 compared with 1990 levels, but has yet to achieve the feat.

Frankfurt, Germany – Germany used more renewable energy than ever in 2022 but again failed to reach its CO2-reduction goal as Russia’s war in Ukraine prompted a return to more coal and oil use, a think tank reported Wednesday.

Europe’s biggest economy emitted 761 million tons of greenhouse gases last year, just one ton fewer than in 2021 and overshooting the target of 756 million tons, the energy think tank Agora Energiewende said in a statement.

“CO2 emissions are stagnating at a high level, despite significantly lower energy consumption by households and industry,” said Agora’s Germany director Simon Mueller.

“This is an alarm signal with regard to climate targets,” he added.

The German government had aimed to reduce carbon dioxide emissions by 40 percent by 2020 compared with 1990 levels, but has yet to achieve the feat.

For 2022, Germany managed a 39-percent reduction from 1990 levels, Agora calculated.

The setback comes despite a record 4.7 percent drop in energy consumption last year, partly in response to soaring fuel prices because of the war in Ukraine.

But the energy saving gains were wiped out by the government’s decision to burn more coal and oil to make up for the loss of Russian natural gas deliveries, Agora said.

The turn to fossil fuels also overshadowed another milestone: renewables accounted for 46 percent of Germany’s power supply mix last year, an all-time high.

The increase was mainly down to favourable weather conditions for wind and solar power, Agora said.

Chancellor Olaf Scholz has stressed repeatedly that the return to fossil fuels is a temporary measure sparked by an energy crisis, and that his government remains committed to combatting global warming.

Germany still aims to phase out coal-fired power plants by 2030 and become carbon neutral by 2045.

But Agora said Berlin needed to drastically ramp up the expansion of renewables this year.

To meet key targets set for 2030, Germany would have to double its solar energy production and more than triple wind power capacity.