it's personal it's divisive it's about topics that affect the whole water pollution climate change and the return. of the real sense check it out. the whole world is talking about climate change including the german government pullin needs to find a way to cut greenhouse gas emissions inhofe by 2030 business is alarmed to it might cost them an arm and a leg. also coming up germans drink less and less beer boxes their homegrown malt still built up the glasses around the world. welcome to double business i want to get johnsonville in good to have you with us

on this september the 20th the day that sees climate strikes all over the world and the german government is also busy coming up with a plan to cut germany's greenhouse gas emissions in half by 2030 the proposal is likely to affect every sector of german life from manufacturing to housing and transportation meeting emissions targets will be a mammoth undertaking let's take a look germany's energy sector is the country's chief contributor to greenhouse gas emissions producing 311000000 tons the manufacturing sector is also high on the list german factories emit 196000000 tons of harmful emissions there followed closely by the transportation sector which chalks of $162000000.00 tons of its own housing and industrial buildings are responsible for $117000000.00 tonnes of gas emissions and don't forget the agricultural sector which adds 70000000 tonnes of methane and nitric oxide to germany's greenhouse gas emissions so pretty much all

industries crucial to our way of life simply producing too much greenhouse gas emissions something has got to give and want or for more i'm joined by falcon hill my he's the chief analyst at so they can invest and here is good to have you with us please tell me we know that germany needs to cut its levels of greenhouse gas emissions by 2030 who's going to pay for it. well let me start it's our task to turn a global risk into a national and global shots and of course so the government will have to pay for it partly by and vestments and the corporate sector will have to pay as well as a private hospitals the important issue is that these costs basically all of this money being spent is spent and then invested manna and not in the consumptive peten that is a point how we can overcome the obstacles county being politically discussed so the

investment that needs to be done is to be sustainable and actually focused on reducing c o 2 emission now is the business in general against the the options like c o 2 pricing or are there some companies actually seeing opportunities in all this. well i think there are plenty of companies who see opportunities in this field and i just want to remember that germany was in the lead and the full to of all of all of tayac business in the wind energy and we should see it as a chance at a loss as a global risk that has to be turned into a child's bought and this is a big but germany pays its highest energy prices in the industrialized world with a very energy intensive industrial and manufacturing sector and if we force these companies out of germany that they move for instance to the u.s. where you have much will stand us in the production given the and vomits all

standards then we don't solve any problem so the point is to keep this business here to have incentives for investment i want to give you one example the new diesel technology is the utmost energy and in fact if. used off of resources and the new filters we have developed and which os still being improved give us a chance to have a short and medium term impact on lowering greenhouse emissions and in that respect i require on the os germany and europe not to have an ideological debate but a pragmatic approach and in this respect with a smirk on the face i say i'd prefer subsidies for future rather than friday's future. all right of course this is a point that can be argued let's move away from business and the cost for business because there are some economists who say it's not about money it's about how we

spend it you know take it indeed and indeed and this is one of my points that i say if we do something it's not the bow for building something but opening new gates and it's got to be invested and not consumptive it will cost money there is no doubt about it it is for the future for the future of this vote for the future of the next generations but it has to be in an invest if menno and it should not strangle the social contract thus levying too much on the population because then the population may go astray and that respects the policy in germany and european union as a big cost to fulfill indeed talk of their chief analyst at a cell they can invest thank you so much you're welcome all right and financial markets are also following the climate debate after all their company share prices could be affected by the government's measures so let's

cross over to call out. who is standing by at the frankfurt stock exchange hopefully there he is. where the dax is how much of what the climate policy will cost companies as a ready been priced in. it's impossible to give an exact number monica what i can tell you is that for sure the concerns about the cost of climate change have contributed to the increased volatility we've seen for quite a while now on the financial markets and at least in some cases it has also contributed to lower share prices take the travel sector for example the shares of the airlines most of them have significantly lost in value since the beginning of this year and at least parts of this has to do also with concerns about the cost involved and about lower profit margins and what's the word on the floor i mean it's still fairly empty but you need these people every day do the people there

think that saving the planet is more important than healthy margins. well monica of course it depends on the time perspective that investors take a short term speculation is of course less interested in you know what's driving business in the background of business but many pension funds many private investors do want to take a medium term and long term view and all of them have understood that this is impossible without taking climate change and climate change policies into consideration and i can also tell you that in companies investment firms also large think tanks like the ratings agencies a few years ago experts for renewable energies were really exotic they were a rare species now all of them have big teams who sit in the front row at analyst meetings and when important decisions for investments are being taken all rights of fighting climate change is no more seen as exotic stock exchange thank you so much

. now while politicians debate her global warming and businesses hope that any counter measures won't hurt their bottom line climate change is already very real in many parts of the world the region our own in the southeast of spain is considered europe's vegetable garden but a week ago a year's worth of rain fell in just 24 hours with disastrous consequences for many farmers and ultimately the consumers it was the worst flood in 100 years and the destruction can still be seen a week after the storm houses and streets were destroyed. but it affected farmers the most one of them is an tonio party this. his county flower was almost ready to harvest and now it's been under water for the past week the floods might be his downfall. we're making so little money.

we can't go on like this. we're thinking about giving up agriculture. a few kilometers away vegetable farmer francisco sanchez looks at the devastation across his artichoke field pieces of asphalt are mixed in with the vegetables. we don't know yet what the total loss is and this is what we need to look at our irrigation systems as the field itself is lost for the next 3 or 4 months you can't plant anything there for now and as a. cause if you sent a have the farmers association assad listens to the farmers even if the extent of the damage is not yet known the affected area speaks for itself you know we think 300000 hectors in the region were partially or completely lost. him. the question

that many here are asking will climate change cause these storms to happen more often in the future at the university of morsi juan gomez the baro knows that rising temperatures play a major role. on the us with a warmer mediterranean you can expect more violent weather phenomena but it's still unknown whether villa kerr more frequently when. the storm was devastating for farmers the representative of the farmers association is now concerned about the storm's effect at the market an event that's when i get it i'm assuming that 15 to 20 percent of the entire production has been lost. so that up with the old robot. lemons for export this company is still in business but the boss knows that many others are suffering from the storm. you know simply that if you can't get to the fields because they're under water you won't be able to harvest your fruit that's the problem but fortunately we have areas that we can still reach even after

a heavy rainfall that's why we've had no problems after the flood of the century business continues even if many fields are still under water. and also some of the other global business stories making news. your way has unveiled its 1st new smartphone since u.s. added it to a trade blacklist a chinese company presented of a made 30 and made to 30 pro at a launch event in munich because of restrictions on u.s. companies working with your way the new smart phones are not expected to have any google apps analysts say that could put many potential customers off. french finance minister says the european union stands ready to impose retaliatory terrorists on the u.s. the white house is thought to be planning sanctions after the world trade organization ruled the new illegally subsidized plane maker airbus european officials have similary accused to or accused the u.s.

of unlawfully funding boeing. construction has begun in niger on a 2000 kilometer or oil pipeline it will deliver crude to neighboring been in nigeria's president i'm on hamas to be sure for described the kickoff as a quote historic moment the project is being funded by beijing so chinese officials attended the groundbreaking ceremony at the eye the dim oil field china's national petroleum corporation announced last month it had signed a contract with the government of being. that's your business update thanks for watching.

take. a few people in stories. so special are you ready. to.

hello and welcome to arts and culture we have more on the international literature festival here in berlin and my guest is andre author of call me by your name also coming up we take a look at a new exhibition by british sculptor antony gormley who says he wants to transport visitors to the threshold between the known and the. all this week we've been reporting on the international literature festival in

berlin writers from around the world are here to give readings whole discussion panels workshops and generally meet and greet their fellow walthers and of course their fans the writer and i asked him and will be with me in a minute but 1st more about the festival. celebration literature the international literature festival is happening now in the german capital you can not only listen to those reading from their works but discuss all manner of topics with liturgy fans from all over the world. there are 200 authors from 59 countries and someone from our team counted them and there are very many languages being spoken. there are also cross disciplinary events inspired by young adult literature.