Germany Lines Up €50 Billion to Help Heavy Industry Go Green

Germany plans to help energy-intensive manufacturers transition to climate-neutral technologies with roughly €50 billion ($53.4 billion) in subsidies.

The program, which still needs European Union approval, would run over 15 years and be open for companies with at least 10 kilotons of carbon emissions annually. That would include manufacturers in the steel, chemicals, cement, paper and glass sectors.

“We are targeting the most emitting companies,” Economy Minister Robert Habeck said Monday at a press conference. From the initiative, the government expects a reduction of 350 million tons by 2045 — a third of the industry’s goal.

Europe’s largest economy ...