Germany is providing 5 billion euros to finance “adaptation payments” to employees as coal is phased out. This will allow employees to retire without deductions at the age of 58. A study co-authored by the Berlin-based climate research institute MCC (Mercator Research Institute on Global Commons and Climate Change) is now examining the economic justification for this subsidy by analyzing real employment profiles nationwide. The conclusion is that social compensation would be much more efficient if job changes, rather than early retirement, were encouraged.
Coal phase-out could be cheaper than currently implemented in Germany
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