tv Business - News Deutsche Welle December 12, 2017 12:15pm-12:31pm CET
and a humble motto that's all the tron i have nothing going to football and i'm just a simple good player. you're watching the news coming up ahead the one planet climate summit kicks off in france the focus convincing business leaders to invest in green energy and make fossil fuel economies a thing of the possed. henna humphry from business says bill had that story for you shortly him to remember you can always follow us on twitter on facebook and you can check out our website the small that's d.w. dot com you're watching news coming to you live from london stay with us.
when i'm traveling to be comfortable. but i also want to stay up to date on all the latest news and events. and d.-w. make snap part of child line easy because it's available and thousands of hotels resorts and cruise ships worldwide. or have you found a domain sign on the subject that shows d. w. in your room you can read a great price go to d.w. dot com travel quiz. coming up with the cash to clean up the planet's fifty wild. it is meet the one
found it is almost in paris to talk climate fine it's. also coming up one of china's largest automaker this is set to phase out sales of all petrol vehicles by twenty twenty five. and lawmakers discuss measures against tax havens but what will they really agree on way the e.u. countries are not white at the white house. this is your business update on helen home free embedded thanks for joining me today is after the paris climate agreement the french capital is hosting the one planet summit four thousand delegates five hundred wild leaders in the focus the financial support to make fossil fuel economies a thing of the past well there's little to celebrate on the anniversary of the paris agreement many goals remain unfulfilled french president of money one michael says he wants to change that with the help of some celebrities. a bit of movie glamour may just help to draw attention to the issues up for debate at the
one planet summit. hits two years since the paris climatic remount was signed that critics say that there have been few achievements to celebrate. and they say it's time can real action not just good intentions the summits message is fossil fuels a history. we will talk some more about that it doesn't matter that donald trump backed out at the paris agreement because the private sector didn't drop out the public take the didn't drop out universities didn't drop but scientists didn't drop by the engineers didn't drop but no one dropped out. donald trump pulled donald trump out of the pyrenees agreement so don't worry about any of that but some concern might be warranted despite numerous pledges of financial help from wealthier countries few funds have reached the nation's most in need of help something protesters outside the venue
a keen to remind delegates of. the french president emanuel. hope lies in the finance and science sectors at the summit he spoke to engineers scientists and entrepreneurs developing innovations to improve energy efficiency france has pledged to spend millions of euros to support the work of eighteen scientists most of them from the u.s. on condition that they were confronts in future. proof of. what i want you to figure out is the most radical innovation fundamental research applied to research all the projects that you have pursuing the technological research that will allow us to win the battle against climate change. and he wants company heads involved two firms will need to raise the bulk of one hundred billion dollars annually from twenty to twenty for climate protection and adapting the planet to climate change exactly how mike home plans to achieve this
though is not yet clear. well as bring in sunny again from our environment desk now sonia how crucial is climate finance to missing the paris goals. well climate finance is absolutely crucial to meeting the peris agreement goals in fact i would say that without climate finance there is no paris agreement the pair's agreement is about to enter its implementation phase and that money is needed in order to both decarbonize the economies of countries especially in the developing world but also to help them adapt to these changes that we're already experiencing as a result of climate change. what needs to happen for people to actually come up with the funds the climate finance. well as has been mentioned there's there's a broad understanding that the private sector is going to have to be leveraged in
order to make up this difference so we have government commitments we have multilateral lending agencies that are committed and they're trying to get more private companies in the game. and i think that though they'll come on board too because it's a very important issue in terms of economic prosperity as well i mean let's take a look at germany then because it's still far more reliant on coal than it intended to be at this stage so how is germany performing on issues like climate finance. well germany is quite strong on climate finance although as you point out it's a bit of a paradox in terms of its own coal policies. at the beginning of the cup twenty three the global climate conference that occurred in bonn just a couple of weeks ago the german government committed to an additional hundred
million euros of funding for adaptation and that i think sets sends a very clear signal that the german government is behind finding this transition to low carbon economy and helping countries adapt. the commitments are there it's really just a question of following through on them our environment editor thank you very much . one of china's largest to make is to phase out sales of all petrol vehicles by twenty twenty five the decision by the state and beijing automated group comes as china debates a plan to impose a nationwide ban on petrol and diesel vehicles authorities have already announced the introduction of a quota system which will require carmakers to produce a minimum number of an electric vehicles from twenty nineteen countries move towards electric aspired forward which they make is like volvo to announce plans to
produce cars for the chinese market. or european lawmakers are discussing the final report concerning the panama paper's revelations last year work which exposed the marry at ways that the wealthy including global leaders have exploited offshore tax systems to make as will then vote on recommendations that action in this comes off of the published its first ever blackness of seventeen tax havens last week sparking criticism from some that no e.u. countries themselves have been named and shamed. the great britain's queen elizabeth the second is among those named. and bono of rock band u two along with hundreds of famous names listed in the so-called paradise papers a catalogue of shell companies and offshore accounts used to camouflage the tax avoidance strategies of the ultra rich while usually legally watertight the
strategies are frequently morally dubious transactions carried out through so-called tax havens with no or low tax regimes publishing a black list of seventeen countries deemed to be tax havens is seen as an important step by the e.u. towards curtailing the practices. critics like international aid organization oxfam have been making their voices heard in brussels for them it's no more than a first step in particular since the e.u. wasn't even prepared to take responsibility for the tax codes of its own members we also found out that for you member states are not fully compliant with the criteria on taxation meaning they are tracked a lot of the profits that did not seem to be made there that's problematic and thus far countries are much looks unberth the netherlands and ireland yet not one of those countries is included in the e.u. blacklist and none of those which are need fear sanctions for the moment either the e.u. hopes that simply being listed will bring countries like panama or barbados or the
u.a.e. around to reforming the tax code. and on this story for us correspondent catherine mawson's joins us now from catharine what concrete actions they know are being decided on their. well the overall claim here from the european parliament is to kind of provide a patient information sheet how to do it how to fight the disease of tax evasion and money laundering so this are those the purpose is really to provide concrete measures as you mentioned and yes there are really proposals like the most important i think according to politicians here in the european parliament one of the most important suggestion would be a common minimum tax rate across the european countries in order to avoid unfair tax competition like we saw it in luxembourg neverland's or malta or other e.u. countries this would be one of the most important measures but as you say there are
decisions but this is only and this is showing the soft character off that report today there are only recommendations not binding so the real problem the bottom line the question is really is that report really able to have a serious impact with regard to tax to the fight of tax evasion but only recommendations which are not finding out salut lee and i mean how likely is it anyway the men the states would actually accrue these measures when bearing in mind some of the countries you've named including multi luxembourg would have to approve them anyway. well this is exactly of the problem there are many different different voices here within the european parliament and the vote is tomorrow or the so we are still not sure if this is really going to be approved at the end of the day and of course concerned member states like montana like
luxembourg like the netherlands they are not so keen to be themselves finally on this blacklisting you list so this is something we really have to observe but at the same time we really see that the european parliament is very committed in order to make a real difference to make a particular shift in order to to not anymore tolerate the illegal tax practices in the country in the countries but the real question tomorrow is really are all this member states backing this kind of patient information sheet right the parliament showing its commitment but of course it's some of the well it's parts correspondent catherine martin thank you. to europe today with all the latest from the wild old business from will find us on facebook follow us on twitter. to school business on that to have on the homefront is my handle by now.
the team is in pieces good business done by brand. new coach same old mystery. this is again this time it's a struggle. discovered by accident they represent a quantum leap in astronomy gravitational waves. scientists want to use them to study invisible celestial bodies sounds crazy. but astronomers think this could help them solve some of the biggest mysteries of the past tomorrow today in sixty minutes. every journey begins with the first step and every
language but the first word published in. rico is in germany to learn german why not learn to spell it out simple online on your mobile and free to suffer from d w z learning course because fifty german made easy listening and if that's good at me speak your language doesn't up. for content in dari pashto. prospects for returning to our web special future life in germany and the prospects for those returning home. join the discussion on t w dot com and on facebook. prospects for returning. to w maybe four miles. up i.