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Construction workerssymbolizes Social Market Economy

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The Social Market Economy

The Social Market Economy

Our free and open society is characterised by the notion of solidarity and by the principles of the social market economy. According to these principles, the government must afford businesses freedom to operate on a level playing field whilst also promoting prosperity and social security for the people living in Germany.

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EU flag symbolizes European Economic Policy; Source: iStock.com/instamatics

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European Economic Policy

The European economy and the internal market

The European Union (EU) is a guarantor of peace, stability, safety and not least of prosperity in Europe. It provides invaluable benefits for Germany, its citizens and its companies, especially access to the EU internal market, which forms the foundation of the EU.

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Computer chip symbolic of digitisation

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Digitisation

Taking control of the digital transformation

Digitalisation is a global trend that is transforming every aspect of our lives. The digital transformation offers tremendous potential for improving people’s quality of life, for creating revolutionary business models and for doing business more efficiently.

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Offshore wind farm; Source: ABB

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The Energy Transition

The Energy Transition

The energy transition is our pathway into a future that is secure, environmentally-friendly, and economically successful. We are in the process of overhauling Germany’s energy supply, moving away from nuclear and fossil fuels towards renewables and better energy efficiency.

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Eine Person umrahmt Sonne mit Händen

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The next step towards expanding renewable energy

The 2021 Renewable Energy Sources Act creates the legal framework necessary for Germany to be able to achieve its climate and energy targets for 2030 and 2050 in the electricity sector.

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