Germany is expected to fall far short of its ambitious “climate change” goals and will fail to comply with the globalist green agenda, according to reports.
Reuters is reporting that the German government is failing to meet the climate goals despite having spent more than $500 billion to reach them.
Unfortunately for the taxpaying German public, the country isn’t even close to complying with the green agenda targets, even after the epic spending.
Germany had pledged to meet targets to reduce greenhouse gas emissions by 65 percent before 2030.
The country also vowed to reach “Net Zero” carbon dioxide emissions by 2050.
However, the German government is primed to miss its targets by a large margin, according to Reuters.
By 2025, the German government will have spent the equivalent of at least $580 billion toward achieving the goals that it is now forecasted to miss, according to Bloomberg.
The German economy is the largest in Europe.
Nevertheless, the country has been in recession since the first quarter of 2023.
The economic situation is potentially a long-term problem that is largely attributable to its energy problems, according to Politico.
The country has spent enormous sums to subsidize green technology.
According to the German Federal Environment Agency, green technology generated 46% of the electricity consumed by Germans in 2022,
But, as of 2021, Germany needed to spend a staggering $1 trillion extra to meet its 2030 goal, according to Reuters.
The country has been hailed as a leading force in the green energy transition.
Nevertheless, its economy has suffered mightily in the wake of Russia’s invasion of Ukraine, according to the Heritage Foundation.
The Ukrainian war has resulted in diminished natural gas flows to fuel the country’s manufacturing sector.
One of the biggest blows has been Germany’s decision to shut down its last three nuclear power plants.
Effectuated in April, the anti-nuclear energy move has compounded the effect of inconsistent Russian gas flows on the German economy, according to Reason Magazine.
Making matters worse, Environment and Energy Minister Robert Habeck warned in June that the country may have no choice but to deliberately diminish its industrial capacity if its current natural gas deal with Russia expires in 2024 without a replacement in place.
Prices for goods like pork and sugar have also skyrocketed.
Meanwhile, many Germans are finding themselves on the hook for spiking energy bills, according to the Heritage Foundation.