But at the end of the day, a broader approach is called for – one that makes Germany an altogether more attractive place to do business and fosters more innovation. Climate change Climate change is another factor that might have longer-term repercussions for the economy, not least because extreme weather events like heatwaves, hurricanes and torrential rainfall are becoming more common.
• Innovation and sound technological ideas are urgently needed if we are to cope with the effects of climate change. So you could say that climate change is two things: an opportunity and a risk for the economy. • To rise to the challenge of adapting to climate change, reliable framework conditions will have to be put in place.