Reuters reveals Germany proposes green funding tool to help industry cut CO2 | Reuters News Agency
Environment

Reuters reveals Germany proposes green funding tool to help industry cut CO2

Reuters revealed that Germany’s government has presented plans for so-called contracts for difference (CfDs), instruments that help companies in the steel, cement, lime and ammonia industries finance the transition to low-carbon technologies. A draft plan by the environment ministry, seen by Reuters, says that companies that commit to cutting carbon dioxide emissions by more than half using innovative technologies could be given the go-ahead to operate on the basis of 10-year CfDs. While at the early stages, the plan shows the direction for Europe’s biggest economy to utilize CfDs payments, for which companies must bid in auctions, and which guarantee a minimum strike price for low-carbon products.

Article Tags
Topics of Interest: Environment
Type: Reuters Best
Sectors: Equities
Regions: Europe
Countries: Germany
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
A woman cycles past a power station that is attached to the ArcelorMittal steel factory in Eisenhuettenstadt, 124 km (77 miles) east of Berlin November 26, 2012. Angela Merkel hopes for re-election next year as a reward for keeping the euro zone intact, but many people in the former East Germany where she grew up feel more like second-class citizens than good Europeans and may give her the cold shoulder. Income and jobs in the former German Democratic Republic still lag behind the west more than 20 years after reunification and trillions of euros in transfers have not stemmed an exodus that has left some areas looking like ghost towns. Picture taken November 26, 2012. TO GO WITH STORY GERMANY-EAST/ REUTERS/Thomas Peter (GERMANY  - Tags: POLITICS CITYSPACE SOCIETY)
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