The allocation of 2.5 billion euros for Germany’s climate neutrality was made public by the European Commission today, on Friday.
The state’s commitment to gradually phase out coal by 2038 or earlier will be an important step toward achieving its climate goal, the Commission said in a press release that was posted on its official website. Germany has committed to reducing carbon dioxide emissions by 65% by 2030 and achieving climate neutrality by 2045.
The statement emphasized that the fair regional transition programs, valued at 2. 5 billion euros and approved by the Commission in Berlin’s favour, will assist four German regions in making sure that their transition to climate neutrality does not leave anyone behind in the local economy and society at large.
France Timmermans, Executive Vice President of the UNHCR’s European Green Affairs Division, commented on this by saying that Germany’s commitment to reduce carbon dioxide emissions by 65% places it at the forefront of the nation that achieves European goals. She also noted that in order to achieve the ambitious goal of climate neutrality in the year 2045, the successful gradual disposal of coal will be crucial, especially given that the green deal was initially founded on the foundation of proving the p
Elisa Ferrera responded by stating that “the fair transition fund will assist the German regions most impacted by the green transformation, namely the north of the Rhine, Westphalia, Brandenburg, Saxony, and Saxony, to move away from coal, support corporate restructuring, diversify the economy, and invest in sustainable movement, digitization, and energy efficiency.
“The states in the north of the Rhine and Westphalia will get 680 million euros,” the statement said, “while the northern section of the Rhine area, which was formerly known as the “Coal Caucus,” will transition from an industry that depends on coal to one that depends on renewable energy.
He emphasized that investments will be concentrated on revitalizing the “Ligint” land and establishing new small- and medium-sized enterprises (SMEs) and startups in the green industries, such as resource efficiency, the circular economy, and essential alternative raw materials, as well as land rehabilitation, which will result in the creation of new job opportunities.
Brandenburg will receive 785 million euros in the meantime to diversify its economy, avoid becoming dependent on the Ligital and gasoline economy, and to create new job opportunities in the green sectors and entice skilled youth to work in the region, while 645 million euros will be invested in numerous renewable energy-related projects in Saxony.
Germany’s equitable climate transition is funded by 2.5 billion euros from the European Commission.
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