One example is coal-fired power stations. Countries such as the UK, Italy and Canada are already well on the way to phasing out these particularly CO
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-intensive plants. Corona can help to accelerate the transition of the coal industry. Here financial aid must go not to power plant or mine operators, but to mining regions and workers. They must be given the best possible support in the form of early retirement, retraining and above all the development of new industries.
Another example is the car industry, which has been under pressure for some years to keep pace with digitisation and climate change. But instead of focusing on alternative drive systems, manufacturers have pushed lucrative SUVs onto the market. A further round of government scrappage premiums, as Germany is discussing, is certainly the wrong way to go about things. I believe that investment in factories, batteries or charging stations for e-mobility is the way forward – while at the same time pressing on with means of transport other than the car.
Strengthening low-carbon innovation
The second approach centres on services and technologies for a deep decarbonisation of our society. Where climate-friendly alternatives are already at hand, we need to accelerate their diffusion. Immediate steps can be taken to replace oil and gas heating systems, install solar systems on commercial and office buildings, and encourage public transport and e-mobility.
Elsewhere, we need longer-term strategies for developing low-carbon alternatives in the first place. I’m thinking particularly of CO
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-intensive sectors that are difficult to decarbonise, such as the cement, steel and chemical industries, and the shipping, aviation and agriculture sectors. Here, wide-ranging innovation programmes must be launched to make climate-friendly substitutes – such as wood instead of concrete and green hydrogen instead of heavy oil – marketable. The countries and companies taking the lead here will be able to position themselves as frontrunners internationally.
Coronavirus relief programmes can prepare the ground for sustainable transformation and spur a green recovery. We should seize this opportunity.
