Germany’s New Government to Channel $67 Billion to Climate Fund

Germany’s new government under incoming Chancellor Olaf Scholz plans to channel 60 billion euros ($67 billion) into a climate fund to help finance the administration’s climate goals over the next four years.

The money will be earmarked via a supplementary budget from existing outlays, an official familiar with the decision said. The Greens, who will take control of the government’s climate agenda, have projected 50 billion euros a year to finance climate protection over the next decade.