THE GND IS TOO CAUTIOUS:

Germany's new coalition government stepped up efforts to slash greenhouse gas emissions with a faster coal exit, more renewables and a new carbon price floor.

The incoming government agreed that Europe's powerhouse economy will stop burning coal for electricity by 2030, eight years earlier than planned, according to a coalition agreement document. Rapid expansion of renewable energy plants and a fleet of new natural gas generators will make up for the shortfall in electricity production.

"We will further develop climate legislation in 2022 and launch an immediate climate protection program with all the necessary laws and measures," the parties said in the accord. "All sectors will have to contribute: transport, construction and housing, power generation, industry and agriculture."

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