Abstract
Germany was already undergoing an ambitious energy transformation process when the corona pandemic hit in 2020. The German government reacted both quickly and decisively by initiating a huge rescue package to stabilize firms and employment. Besides immediate economic aid, the stimulus programme implemented in June 2020 contains more than 40 Billion Euro to foster both the green and the digital transformation. However, to achieve carbon neutrality effectively and efficiently market mechanisms allowing individuals and firms to internalize the environmental costs of their consumption and production behaviour are key. Therefore, in addition to the EU ETS, in 2021 Germany introduced a national carbon pricing scheme for the heating and transport sector. Certainly, unilateral European or national initiatives will not suffice to accomplish the goals of the Paris Agreement. Therefore, striving for joint global action is equally crucial both to combat the Corona-virus and to limit global warming.
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