EU approves German scheme for ETS and decarbonisation

(ANSA) - BELGRADE, MAR 24 - The European Commission has approved a €5 billion German aid scheme to assist companies subject to the Emissions Trading System (ETS) in decarbonising their production processes. The scheme helps Germany achieve its energy and climate goals, as well as the EU's long-term prosperity and competitiveness objectives. The aid is specifically designed to assist businesses in reducing carbon dioxide emissions in their manufacturing processes through technologies such as electrification, hydrogen, carbon capture and storage, carbon capture and utilisation, and energy efficiency measures. I The scheme will benefit companies that operate in ETS-regulated industries such as chemicals, gypsum, and glass. Projects must achieve a 60% reduction in emissions over three years and a 90% reduction by the end of the supported project when compared to an ETS-based reference system. (ANSA).