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Germany’s Federal Ministry of Economic Affairs and ClimateProtection (BMWi) has approved €900 million for the innovative funding instrument H2Global. —Robert Habeck, Federal Minister of Economic Affairs and ClimateProtection. is expected to pay more in purchasing than it can collect through sales.
The legislation also proposes numerous actions against financing and support for fossil fuel industries. Among the financing provisions of the legislation are: Price on carbon. Bernie Sanders (I-Vt.) and Barbara Boxer (D-Calif.) The legislation would enact a fee of $20 per ton or carbon or methane equivalent, rising at 5.6%
The Federal and state governments also expect the manufacturers to use self-financed competitive measures to provide incentives for the change of pre-Euro-5 diesel vehicles to vehicles with the latest exhaust gas aftertreatment or electric vehicles. In this sense, modern and clean diesel technology can also contribute to climateprotection.
Auction revenues may be used for the public good by allocating the allowance value to: households as dividends; financing investments and other public expenditures; and. Support for this use of allowance value stems from the idea that the climate-regulating services of the atmosphere are a common property resource.
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