German coalition agrees to 50 billion euro climate package

Khabarhub

September 21, 2019

Reading Time: 1 minute

German coalition agrees to 50 billion euro climate package

Photo: Pixabay

  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  
  •  

BERLIN: The German government has agreed to a major package of measures to cut greenhouse gas emissions after weeks of coalition wrangling and an all-night negotiation session.

The climate package agreed by the German governing coalition is to cost more than 50 billion euros (55 billion dollars), government sources said.

The measures include a ban on installing oil-fired heating in buildings from 2025, with a subsidy for householders prepared to switch to more climate-friendly alternatives.

A price for emissions of carbon dioxide has also been agreed that will take effect via trading in emissions certificates.

The aim is for petrol and diesel to rise in price by three euro cents in 2021, increasing to 10 cents by 2026. Petrol currently costs around 1.40 euros a liter and diesel around 1.30 euros in Germany.

The government’s stated aim is to cut greenhouse gas emissions by 55 percent by 2030, by comparison with 1990 levels. This implies a cut from 866 million to 563 million tons a year.

(Agencies)

Just In

0