(Bloomberg) — Germany’s climate and transformation fund faces a shortfall of as much as €10 billion ($10.8 billion) next year, according to people familiar with the matter, casting doubt on the nation’s goal for curbing greenhouse gas emissions.
The gap in the off-budget fund threatens key solar and hydrogen projects, the people said, asking not to be identified as the information is private.
“It is currently not possible to provide conclusive information on this, as it depends on various parameters and estimates that need to be updated,” according to Germany’s finance ministry, commenting on the size of the funding gap.
Chancellor Olaf Scholz’s coalition was forced to overhaul its finances after a top court last year ruled that it was unconstitutional to transfer more than €60 billion earmarked to tackle the Covid-19 pandemic into the climate fund. While the 2024 budget has finally passed, that only came after the…
