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2019-09-20. Germany Unveils $60 Billion Climate Package.

posted Sep 30, 2019, 12:11 AM by Alan Gould
By Melissa Eddy, The New York Times. [https://www.nytimes.com/2019/09/20/world/europe/germany-climate-protection-merkel.html] For GSS Climate Change chapter 9. Excerpt: BERLIN — Chancellor Angela Merkel’s government on Friday agreed to support a $60 billion package of climate policies aimed at getting Germany back on track to meet its goal of reducing greenhouse gas emissions by 2030. ...Under the terms of the new package, Germany will work to reduce carbon emissions by 55 percent of 1990 levels by 2030. A cornerstone of the agreement is to begin charging in 2021 for carbon emissions that are generated by transportation and heating fuels. Companies in the transportation industry will be required to buy certificates for 10 euros (about $11) per ton of carbon dioxide emitted. The price will increase to 35 euros per ton by 2025, and a free-market exchange will open afterward, allowing the polluters to auction their carbon pollution permits. Consumers will likely face higher gas prices that the government will offset by raising tax breaks for commuters....