Germany: Cabinet ministers and Chancellor Angela Merkel has already agreed on a plan that includes making the country climate-neutral five years earlier than previously planned. Following this, now the German government adopted an emergency climate protection program worth eight billion euros (USD 9.6 billion) to help the country achieve its new climate targets, Minister of Finance Olaf Scholz said in a statement.

Germany seeks to become climate neutral by 2045, five years earlier than previously planned. The actual target for greenhouse gas emission cuts by 2030 has been increased from 55 per cent to 65 per cent compared to 1990 levels. In order to achieve the "ambitious climate targets," specific and comprehensive actions are necessary with a focus on short-term measures that "visibly and measurably reduce greenhouse gas emissions", the Federal Ministry of Finance (BMF) said in the statement.

With 5.5 billion euros, the energy-efficient refurbishment of residential buildings and the climate-friendly new construction or refurbishment of social housing would be promoted until 2025, according to the BMF.

In the past two years, the German government has already invested more than 80 billion euros as part of its climate protection and economic stimulus programs, the BMF said. The government has approved the new emergency program along with the draft of the 2022 federal budget.

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