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.
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