German businesses support more climate action, criticise power prices

Nine out of 10 businesses are in favour of additional climate action measures in Germany, shows a survey conducted among the Association of German Chambers of Commerce and Industry's (DIHK) 2,600 member companies. 53 percent support additional climate action measures even if it is a burden to their company. At the same time, disappointment with the German energy transition has, however, increased strongly, the DIHK's energy transition barometer shows. Only about 15 percent of industrial companies still regard the transition as positive for their own business, writes DIHK. Above all, companies see rising electricity prices and sluggish network expansion as evidence that the energy transition is not progressing. “The opportunity to build more trust among companies with sustainable decisions has been damaged by poor developments in the energy transition,” said DIHK president Eric Schweitzer, who added that the trend was seen in all sectors and regions.

While German citizen support for the energy transition remains high, the picture for businesses is mixed, with electricity prices a frequent point of criticism. However, after balking at the Energiewende for many years, German industry has made a notable shift - embracing the energy transition with a new fervour. Business increasingly sees money to be made from a low-carbon future, alongside benefits for the economy as a whole.