Early this month, Reuters reported around a study that says that due to extreme weather caused by climate change, Germany could be looking at a bill of about 900 Billion Euros in total damages by mid-century. This is a direct example of how sustainability and ESG is affecting the bottom line. The study, originally from economic research companies Prognos and GWS and Germany's Institute for Ecological Economic Research comes as Berlin works on a climate strategy that is supposed to be presented by the environment ministry.

This week, the German government approved a new package of measures to speed up the expansion of renewable energy. Previously, the German government had a target of 65% of energy to be clean energy by 2030. With this new commitment, the goal is for 80% of energy to be clean energy by 2030. As of April this year, just under 41% of Germany’s power consists of clean energy.