Factbox: German government agrees on stricter climate targets

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The lignite-fired power stations of “Neurath New”, Niederaussem and “Neurath Old” of German energy and utility supplier RWE are pictured in Neurath, north-west of Cologne, Germany on February 5, 2020. REUTERS / Wolfgang Rattay

FRANKFURT, May 12 (Reuters) – The German government on Wednesday agreed to stricter sectoral targets for reducing carbon emissions, which means bringing forward an exit date for the current coal shutdown. set at 2038. read more

A new law, which could trigger 8 billion euros ($ 9.70 billion) in additional spending on climate protection in the 2022 budget and measures a few weeks after the passage of parliament, has shown that the sector of energy should become a key component of CO2 emissions, via electrification.

It must reduce carbon pollution by nearly two-thirds between 2020 and 2030, far ahead of a rough third for industry and a fifth for agriculture, and 43% for construction and transport each.

The measures follow a court ruling last month that a 2019 law failed to provide sufficient climate protection. read more Could help Germany take advantage of low carbon technology

The law will affect this year’s election campaign when Chancellor Angela Merkel’s conservatives compete with Green environmentalists, who currently lead the polls.

HIGHER OVERALL EMISSIONS TARGETS

Germany is now aiming for a 65% reduction in carbon emissions by 2030 and net zero by 2045, compared to 55% previously for 2030 and net zero by 2050.

Germany’s actual CO2 emissions are currently 40% below 1990 levels.

The law did not make detailed recommendations for post-2030.

THE SINK

An important tool for implementing the law will be a carbon tax charged to heating and transportation fuel suppliers since January 1.

By initially raising 25 euros per tonne of CO2 equivalent, which is expected to rise to 55 euros per tonne, it is imposing emission reductions while raising money for the government to help consumers cope with the increase in emissions. heating, electricity and travel bills. Read more

The law expressly allows for a “different pricing structure” to move away from oil and gas heating systems and battery-powered car purchases, which will benefit from favorable taxation.

Homeowners are likely to assume half of the additional heating costs resulting from the legislation.

($ 1 = 0.8243 euros)

Reporting by Vera Eckert and Markus Wacket, editing by Kim Coghill

Our Standards: Thomson Reuters Trust Principles.


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