Germany's €23 Billion Green Experiment to Save Its Industrial Economy [Financial Post (Toronto, Ontario, Canada)]
AURUBIS AG UNSP/ADR (AIAGY)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — Europe's largest economy is running a €23 billion ($24.9 billion) experiment to reach net zero by 2045 without destroying its energy-intensive industrial base. The government of Olaf Scholz announced earlier this month so-called “climate protection contracts” to help companies in sectors like steel, cement and glass cover additional expenses incurred in using cleaner technologies, compared with conventional processes. Under the program, applicants present proposals for the amount of support needed, with the bids offering the highest CO2 reductions for lowest price receiving funding. Article content Article content The policy is similar to the Contracts for Difference (CfD) programs that governments have used to help roll out renewables in many parts of the world. Yet the scope of the technologies that it covers is different to anything that's be
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