Heidelberg Cement was also examined by the authors of the study.
Photo: Uwe Anspach / Archive (dpa)
If more money is distributed to the shareholders, according to the logic of the study, there will be a lack of investment on the other hand. “Companies could set other priorities if they wanted. But politics allows them to shirk their responsibility, ”said Barbara Sennholz-Weinhardt from Oxfam Germany.
Demand: First strive for climate targets, then serve shareholders
The analysis of the sectors mobility with companies takes a closer look BMW, Daimler, VW and Lufthansa, the energy sector with Eon and RWE, the real estate sector with Vonovia and cement production with Heidelberg Cement. According to the study, all eight companies invested too little in climate protection between 2009 and 2020 to reduce their greenhouse gas emissions to such an extent that climate change can be slowed down as internationally agreed. At BMW, Daimler, VW and Lufthansa joint investments of 13.8 billion per year were required, and thus half of the profits. The DAX corporations could have paid out money to the shareholders anyway.
Finanzwende and Oxfam are calling for companies in Germany to be obliged to develop specific strategies for climate protection and sustainability – and then to publish them. The size of the distributions should depend on whether enough money has been invested to achieve the goals.
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Only six percent are credibly moving towards the 1.5 degree target
The second analysis on the green investment gap comes from the Swiss private bank Lombard Odier. She looked at the global index fund MSCI World, which comprises a total of 1,600 companies. There are also many DAX companies from Germany. According to the Swiss, only a quarter of the companies in the MSCI World Index are currently aiming to keep warming below the mark of two degrees. Only six percent are already credibly moving towards the target of 1.5 degrees. Currently, according to the bank, the efforts of the companies are too little to limit global warming to a level mankind can tolerate.
If they are not increased, the temperature will rise by 2.9 degrees compared to pre-industrial times. And large parts of the world would become uninhabitable.
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