The European Commission approved on Monday the German government's decarbonization scheme worth €5 billion. The program aims to help companies decrease their carbon dioxide emissions through measures including carbon capture and hydrogen use.
The projects will need to achieve a 60% emission reduction in three years and a 90% emission reduction by the end of the supported project, the Commission said. It concluded the scheme is necessary for achieving European and national environmental targets and will have a limited impact on competition and trade within the EU.
