Germany deploys a support plan to decarbonize its heavy industry. Called “carbon contract for the difference”, this financing mechanism will help selected companies to offset the additional costs generated by new, less polluting production processes.
First phase of the program will make it possible to distribute the sum of four billion euros between the selected companies. A second call for tenders will open in the fall and will cover an amount of 19 billion euros in subsidies. The most energy-intensive industries releasing “more than ten kilotons of CO2 per year” will be able to submit their transformation project to the State.