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 germanys 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 lets take a look germanys Energy Sector is the countrys 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 dont forget the Agricultural Sector which adds 70000000 tonnes of methane and nitric oxide to germanys 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 im joined by falcon hill my hes 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 whos going to pay for it. Well let me start its 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 childs 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 dont 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 id prefer subsidies for future rather than fridays future. All right of course this is a point that can be argued lets move away from business and the cost for business because there are some economists who say its not about money its 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 its not the bow for building something but opening new gates and its 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 youre welcome all right and Financial Markets are also following the climate debate after all their Company Share prices could be affected by the governments measures so lets 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. Its 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 weve 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 whats the word on the floor i mean its 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 whats 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 wont 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 europes vegetable garden but a week ago a years 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 its been under water for the past week the floods might be his downfall. Were making so little money. We cant go on like this. Were 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 dont 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 cant 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 its 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 storms effect at the market an event thats when i get it im 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 cant get to the fields because theyre under water you wont be able to harvest your fruit thats the problem but fortunately we have areas that we can still reach even after a heavy rainfall thats why weve 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 nigerias president im 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 chinas National Petroleum corporation announced last month it had signed a contract with the government of being. Thats 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 weve 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