Hamburg's economy pioneering energy transition, IHK survey finds

19 January 2021

Energy transition gives companies competitive edge

Businesses in Hamburg are pioneering the energy transition, according to a recent survey by the Chamber of Commerce done as part of the Germany-wide "IHK-Energiewende-Barometer 2020". Some 32 per cent of companies rate the impact of the energy transition on their competitiveness as positive, and only 12 per cent as negative putting Hamburg well ahead of other regions in Germany. "The energy transition is being made in the north," said Prof. Norbert Aust, President of the Chamber of Commerce. "Companies in Hamburg believe the enerrgy transition gives them a competitive edge and they are pioneers for all of Germany." The 2040 location strategy aims to transform Hamburg into a dynamic, innovative, climate-friendly and sustainable city. The energy transition is key to this development, Aust pointed out.

Companies driving energy transition

Most companies have taken climate protection and energy transition measures amid the COVID-19 pandemic, according to the barometer. Around 74 per cent of respondents focused on measures to raise energy efficiency while 69 per cent of companies in Hamburg have purchased or intend buying environment-friendly electricity. Respondents are also looking forward to the new CO2 pricing tool which two-thirds say is suitable for promoting climate protection across the economy. Around a third see this as an opportunity compared to 49 and 21 per cent respectively across Germany. As in the past, respondents would like politicians to accelerate planning and approval procedures, support for grid expansion and expanding renewable energies both in Hamburg and nationwide.

Nationwide survey

Around 2,600 companies including 93 in Hamburg took part in the nationwide survey conducted by the umbrella organization of Chambers of Industry and Commerce in Germany (DIHK). Respondents were asked to rate the impact of the energy transition on their competitiveness on a scale of minus 100 to plus 100. This score came to +18 in Hamburg while the national average amounted to - 2.5. - an increase of over six points over results of the 2018 survey.

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