In a non-paper to the EU Commission, Germany pushed for one-size-fits-all fiscal rules that limit government spending to a "common benchmark" which experts warn could limit EU green investments.
EU finance ministers agreed on new spending rules, copying much of previously existing rules. One worry is that only three countries Sweden, Denmark and Luxembourg could currently afford to meet green commitments while meeting debt and deficit rules.
In the race to contain the climate emergency, governments worldwide are scrambling to cut carbon emissions. From encouraging people to walk instead of drive, to planting millions of trees, the aim is to limit global warming to 1.5°C.
But some are planning to put them - yes, the actual CO2 emissions - into the ground, using a form of technology called Carbon Capture and Storage (CCS). This allows us to trap up to 90 per cent of the CO2 that would normally enter the atmosphere, under our feet.
How does it work?
Capturing carbon and storing it is a complicated process, but promises massive pay-offs in the long run. So what does the process involve?
The Enigmatic ‘Climate Chancellor’ Pulls Off a Grand Finale
A new EU climate target cements Angela Merkel’s global legacy, but many in Germany say she has often been an obstacle to progress.
December 31, 2020
German Chancellor Angela Merkel throws her voting card into the ballot box during passage of sweeping climate legislation in December 2019. Credit: Fabian Sommer/picture alliance via Getty Images
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Power Switch: Last in a series about the German energy transition.
Inside a council building on Brussels’ Rue de la Loi, a landmark climate deal was hanging in the balance. Angela Merkel was in her element.
It was past midnight, the negotiations extended into the early hours of Dec. 11. By the time the sun rose, Merkel and the other European Union leaders emerged to say they had an agreement to cut carbon dioxide emissions in their countries 55 percent from 1990 levels by 2030.