1. Roland Berger Strategy Consultants 1I THE BLIND ALLEYS OF CLIMATE POLICY Dr. Martin Wittig Roland Berger Strategy Consultants 8th Munich Economic Summit, May 28, 2009

2. Roland Berger Strategy Consultants 2I There can be no one "right" approach to climate policy without efficient short-term solutions CLIMATE CHANGE IS A STRATEGIC ISSUE… …NEEDING A QUICK FIX > Long-term issue with an unforeseeable outcome >High degree of urgency and magnitude > Global scope and diverging interests of emerging economies > Short-term, technically feasible solutions > Efficient and ample CO 2 reductions – Buying time > Regional responsibility of industrialized countries

3. Roland Berger Strategy Consultants 3I Nuclear energy is part of the solution – Germany’s denial is a blind alley Time frame Issue 50 - 100 years Definite resolution CLIMATE CHANGE "Strategic" Unexpected 10 years Final disposal of radioactive waste NUCLEAR ENERGY "Tactical" Manageable and affordable Outcome

4. Roland Berger Strategy Consultants 4I Good nuclear energy leads to a win-win situation between industrialized and emerging countries INDUSTRIALIZED COUNTRIES >Further development of best practices … >R&D for clean technologies based on nuclear energy (e.g. hydrogen fuel cells) … >Meaningful CO 2 reduction through safe nuclear energy … EMERGING COUNTRIES … enables knowledge sharing instead of unsafe "stand-alone" developments … gives the world a chance for a common and definitive solution to climate change …buys time and allows for sustainable economic growth

5. Roland Berger Strategy Consultants 5I Among industrialized countries, Germany needs to play a leading role in nuclear energy... RETHINKING GERMANY'S NUCLEAR POLICY Provide the economy with safe, climate-neutral and affordable energy Be successful in global competition with regions which are increasingly able and willing to provide their economies with nuclear energy, e.g. China, Russia Promote today's know-how in nuclear energy as a competitive advantage through international cooperation Be part of the global solution

6. Roland Berger Strategy Consultants 6I SUSTAINABLE MOBILITYRAW MATERIAL EFFICIENCY ~5 ENERGY PRODUCTIONENERGY EFFICIENCY ~10 RECYCLINGSUSTAINABLE HYDROPOWER ~20 ~30 ~25~10 Germany's market share in environmental technologies, 2007 [%]... while strengthening its role in alternative environmental technologies