-
Germany has approved an emergency climate protection programme.
- The funds will help in developing energy-efficient infrastructure and clean transportation.
- Germany plans to achieve net-zero carbon emissions by 2045.
The German government has adopted an €8 billion ($9.6 billion) emergency climate protection programme to enable it to meet its climate change targets, the Minister of Finance, Olaf Scholz, has said. It is expected that this programme will enable Germany to become carbon neutral by 2045, five years earlier than planned.
Germany has increased its 2030 targets for greenhouse gas emission cuts from 55 per cent to 65 per cent compared to 1990 levels. The Federal Ministry of Finance (BMF) noted that to achieve the country’s “ambitious climate targets, specific and comprehensive actions are necessary with a focus on short-term measures that visibly and measurably reduce greenhouse gas emissions”.
The finance ministry notes that €5.5 billion will fund the energy-efficient refurbishment of residential buildings, construct new climate-friendly buildings, and promote social housing refurbishment until 2025. €1.07 billion would be used for transportation; projects would include new bicycle paths, digitalization of railways, new fast-charging stations for electric vehicles and climate-friendly shipping.