Climate Politics
Germany Lines Up €50 Billion to Help Heavy Industry Go Green
- Program intends to cover additional cost of clean production
- Steel, chemicals and cement companies could benefit from aid
The blast furnace at the Salzgitter AG mill in Salzgitter, Germany.
Photographer: Krisztian Bocsi/BloombergThis article is for subscribers only.
Germany plans to help energy-intensive manufacturers transition to climate-neutral technologies with roughly €50 billion ($53.4 billion) in subsidies.
The program, which still needs European Union approval, would run over 15 years and be open for companies with at least 10 kilotons of carbon emissions annually. That would include manufacturers in the steel, chemicals, cement, paper and glass sectors.