威力彩玩法

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25 Jul 2023, 13:29
Jennifer Collins

Germany to overhaul export guarantee scheme to push climate protection

威力彩玩法 / Die Zeit

Germany is planning to end export guarantees for oil and coal projects and will bolster support for green technology exports in an effort to align the country鈥檚 foreign trade with climate goals, according to the Green Party-濒别诲听 (BMWK). The ministry wants to funnel more funds toward climate protection by splitting its export credit guarantee scheme for the energy, industry and transport sectors into three categories. The scheme, also called Hermes Cover, reduces commercial risk for German exporters and banks by providing insurance in the case of payment defaults. Exports of renewable energy technologies, for example, would fall under the 鈥済reen鈥 category and have easier access to the scheme as well as to more 鈥渁ttractive鈥 insurance conditions. The new sectoral guidelines, which are now open to consultation with trade unions and business associations, foresee a 鈥渞ed鈥 categorisation for climate-damaging technologies, such as oil and coal. These would no longer be covered by export credit guarantees. Conditions for technologies that fall under a 鈥渨hite鈥 category would remain unchanged and include projects that help to phase out fossil energy. However, the scheme would continue to support gas projects in special circumstances until 2025,聽.

Environment NGO聽聽the exceptions for gas, saying they damaged Germany鈥檚 international credibility when it comes to a 鈥済lobal energy transition.鈥 The executive director of Greenpeace Germany, Martin Kaiser, also said the country should halt guarantees for gas drilling projects. 鈥淎pparently, climate protection is to be sacrificed again to German industrial interests. In view of the climate crisis, we must no longer invest in coal, oil and gas,鈥 Kaiser told Die Zeit.聽A 2021 investigation聽by NGOs Urgewald and DUH found the German government issued export credit guarantees to 12 billion euros worth of fossil fuel projects between 2015 and 2021, including just over nine billion for gas projects. The BMWK said the Hermes Scheme covered renewable energy to the tune of 492 million euros in 2022.

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