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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. Germany, which is home to many energy-intensive industries as Europe's biggest economy, aims to cut its greenhouse gas emissions to net zero by 2045. The government, which says industry accounts for about one-fifth of the country's emissions, says Germany is the first in the European Union to launch the so-called “carbon contracts for difference.”

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