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BERLIN (AP) — Germany's vice chancellor on Tuesday launched a program initially worth up to 4 billion euros ($4.4 billion) to help heavy industry shift to more climate-friendly production over a 15-year period. Support will be capped at 1 billion euros per bidder in an effort to accommodate medium-sized companies. He said it is “super cost-efficient” because companies will be bidding to make carbon-neutral production as economically as possible. Habeck's Economy Ministry hopes that a second round of bidding for support totaling up to 19 billion euros will take place at the end of the year. But if “designed wrong, carbon contracts for difference stand completely in the way of this transition” by chaining the country to old, climate-damaging technology, he argued in a statement.

Persons: — Germany's, Robert Habeck, ”, Martin Kaiser, “, Habeck Organizations: BERLIN, European Union, ”, Ministry, of German Industries, Greenpeace, Green Locations: Germany, Greenpeace Germany

☆ Germany, Once a Powerhouse, Is at an Economic ‘Standstill’
▼ + stars: | 2024-01-18 | by ( Melissa Eddy | ) www.nytimes.com time to read: +1 min

Germany started the year with Berlin’s streets choked with tractors and farmers blaring horns in furious protest of proposed budget cuts. Then train engineers walked off the job to demand better pay, stranding commuters and carloads of freight and leaving the country angry and gridlocked. The same could be said for the state of the German economy. “The economy is at a standstill in Germany,” said Siegfried Russwurm, the president of the Federation of German Industries. “We don’t see any chance of a rapid recovery in 2024.”Since it was rebuilt after World War II, Germany has been Europe’s main driver of economic growth, becoming an industrial powerhouse known for vast factories and fine-tuned engineering.

Persons: ”, Siegfried Russwurm Organizations: Federation of German Industries Locations: Germany

☆ EU was set to ban internal combustion engine cars. Then Germany suddenly changed its mind
▼ + stars: | 2023-03-24 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +8 min

CNN —When EU lawmakers voted to ban the sale of new combustion engine cars in the bloc by 2035, it was a landmark victory for climate. With cars and vans responsible for around 15% of its total greenhouse gas emissions, a phase-out of polluting vehicles is a key part of EU climate policy. The law envisions a total ban on the sale of new diesel and gasoline cars by 2035. Germany is now pushing against the idea that all internal combustion engines must be banned. Other European countries, including Italy, Poland and the Czech Republic, have joined Germany in demanding the exception.

☆ German businesses expect only mild recession as disruptions ease
▼ + stars: | 2022-12-27 | by ( ) www.reuters.com time to read: +2 min

There have been growing signs that the German economy could stave off the worst of an economic downturn triggered by a plunge in energy supply from Russia after the Ukraine invasion. Inflation slowed slightly to 11.3% in November from a high of 11.6% the month prior as energy prices eased. The Association of German Chambers of Industry and Commerce (DIHK) said there were many indications that supply chain disruptions were gradually easing. However, the DIHK warned that soaring energy prices and easing consumer sentiment were still clouding the outlook for 2023. The ZDH association of craftsmen echoed the DIHK, saying noticeably fewer orders were coming in for next year.

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