Germany will sign climate protection contracts with industrial companies next year, according to Reuters

(Reuters) – German Economy Minister Robert Habeck said on Sunday that Germany would enter into so-called climate protection contracts with industrial companies next year to support the transition to cleaner manufacturing and the switch to hydrogen.

“The goal is to efficiently develop a green industry along with value chains that become tradable,” Habeck said as quoted by Funke Media Group.

Habeck did not provide details on what those deals would include.

Reuters reported Wednesday that Habeck plans to give companies operating in energy-intensive industries, including chemicals and steel, deals for 15-year subsidies, which it described as climate protection contracts, in exchange for a reduction in their production.

(Prepared by Hassan Ammar for the Arab Bulletin)