The German Association of Real Estate Owners (GdW) has warned that the (new) German Climate Bill will increase costs for tenants and homeowners. The Bill has lowered from 70 to 67 million tonnes per year the CO2 emission target for houses to be achieved by 2030. Current emissions are at 113 mio tonnes.
In a statement released on tuesday, the GdW says that “climate neutrality for flats is possible only with major financial efforts, as energy-retrofitting is among the most expensive measures in climate protection, and the use of renewable energies is certainly more expensive than the use of fossil energy".
Furthermore, an expert committee of the Justice ministry has recommended making insurance against catastrophic events mandatory for house owners, based on the assumption that climate change will make events such as hard rain and flooding more frequent. Going back to the caves is perhaps not a metaphor.
