Climate protection and carbon storage funding

Berlin (dpa) – Federal Economic Affairs Minister Robert Habeck is planning to provide €3.3 billion up to 2030 to support the transition to more environmentally friendly manufacturing and underground carbon storage. “We particularly want to help the many small and medium-sized manufacturers transition to low-carbon processes,” Habeck explained in Berlin when announcing a new “Federal Funding for Industry and Climate Protection” funding line. The new funding replaces previous regulations which expired at the end of 2023. The funding is designed to supplement “climate protection contracts” through which the state covers the additional cost of more environmentally manufacturing processes in energy-intensive industries for a transitional period.