- Enhanced backing for climate initiatives in small-scale enterprises and Carbon Capture and Storage (CCS)
Economic Chief Minister Robert Habeck is set to back the shift to eco-friendlier manufacturing techniques and underground CO2 storage with approximately 3.3 billion euros by 2030. This initiative falls under the brand-new "Federal Grants for Business and Climate Protection." Projects with a minimum investment of 500,000 euros for small to medium-sized enterprises and 1 million euros for large corporations are eligible under this scheme. When the project fund surpasses 15 million euros, local authorities are expected to chip in financially, contributing 30 percent. These finances originate from the Climate and Transformation Fund (KTF).
The financial assistance is aimed at businesses operating in energy-consumptive basic materials, steel and casting, glass, ceramics, paper, or cement industries, among others.
Moreover, the trapping and underground storage of harmful CO2 (CO2), a practice criticized by environmental groups, is going to be fostered. The ministry clarified, "Funding is only applicable to unavoidable CO2 emissions." Projects that qualify are in the realms of lime, cement, waste heat treatment, basic chemistry, glass, and ceramics.
The shift to eco-friendlier manufacturing techniques is aimed at improving the climate in energy-intensive industries. The financial support for CO2 storage is targeted at unavoidable emissions, specifically in industries such as lime, cement, and basic chemistry.
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