property
Study: 1.4 trillion euros for climatic renovation necessary
Germany’s residential buildings cause around 14 percent of all CO2 emissions. According to a study, a remodeling would cost around 1.4 trillion euros. But it would be worth it anyway.
According to a study, the climate -friendly conversion of Germany’s residential buildings by 2050 would cost around 1.4 trillion euros. “The decarbonization of the real estate sector is a very thick board that has to be drilled,” said Arne Holzhausen of Allianz Research. But the earlier it is addressed, the better, he emphasized with a view to a joint investigation by the Insurance Group Alliance and the credit insurer Allianz Trade.
1.4 trillion euros required for climate -friendly conversion
In the four largest European economies of Germany, France, Italy and Spain, investments of around 3 trillion euros were required by 2050. “Around half of them are only omitted to the German housing sector with 1.4 trillion euros in order to finance the necessary renovations and energy efficiency increases,” said Holzhausen.
According to the information, residential buildings in Germany cause around 14 percent of all CO2 emissions-indirect emissions. The sector is therefore considered an important cause of greenhouse gas emissions – and an important adjustment screw when reaching climate neutrality.
The building energy law, which is still reformed by the traffic lights, often serves as a heating law. This provides that every newly built heating must be operated 65 percent with renewable energies. That can, but does not have to be a heat pump. The CDU, CSU and SPD have announced in the coalition agreement to abolish the law. But what exactly is coming is unclear. There should still be a building energy law.
Real estate prices would probably increase by 0.5 percentage points
According to the study, a climate -friendly conversion would make real estate by around 0.5 percentage points. But it was still worth it. “In Germany alone, added value in the real estate industry in 2050 could be one trillion euros higher – and around 107,000 new jobs could be created,” said Holzhausen. This could reduce the unemployment rate by an average of 0.2 percentage points.
According to the investigation, this could be possible through a mix of higher CO2 prices, targeted financial support and improved political framework conditions. However, the study authors are not sufficient as a control instrument. Because only prices well over 300 euros per ton would mean that the expected cost savings cover the high flow costs. It is currently 55 euros per emitted tonne carbon dioxide.
dpa
Source: Stern
