Germany sets out concept for green industry market to decarbonize petrochemicals, ethylene
BERLIN (Reuters)—Germany's economy ministry presented on Wednesday its concept to create a market for climate-friendly products as Germany aims to become carbon neutral by 2045 and seeks ways to cut emissions in its steel, cement and chemicals industries.
In addition to subsidies to help energy-intensive firms switch to green production the government launched earlier this year, Berlin wants to build demand for goods built with a lower greenhouse footprint which are usually more expensive than those conventionally-made.
The concept includes industry-specific definitions of climate-friendly steel, cement, ethylene and ammonia, along with a labelling system for these definitions.
"Our vision is the wind turbine made of green steel, which is based on a foundation of green cement, and the electric car, which not only runs CO2-free but is also made of green steel," said Economy Minister Robert Habeck.
The ministry said setting quotas for green goods for public procurement, which makes up 15% of Europe's biggest economy, is a possible tool to advance green markets until they are the standard in Germany from 2045 and in Europe by 2050.
On the European level, the ministry wants to introduce binding requirements for raw materials and products' emissions.
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