Germany unveiled a
"3-digit-billion" euro plan
to address climate change,
but it will have
a "neutral impact"
on government finances
(no new government debt).
Angela Merkel's government
reached a deal Friday
on a broad climate plan
for Germany.
Tens of thousands
of climate protesters
rallied, demanding more
environmental protection.
The coalition reached
"an agreement with
many measures and an
annual monitoring mechanism"
on meeting climate targets,
said a government source.
The plan tackles emissions
in the energy and industrial
sectors, to incentives
for zero-emission electric
vehicles or public transport.
The package is worth
about 50 billion euros
($55 billion),
according to local
media reports.
Germany's DPA reports
the nation won’t take on
additional debt to fund
the package.
The package will be paid for
by increased taxes:
Consumer prices of gasoline
and diesel to rise EU0.03
per liter from 2021, and by
EU0.09 to EU0.15 per liter by 2026;
and additional funds from a national
carbon trading scheme.
However, Germany stated
that it may issue green bonds
(borrow money) in the future.