- The government will support industry’s transformation in a bid to meet the country’s 2040 net-zero emission target by focusing on supporting new ways of production.
- €3 billion will be spent on eliminating fossil fuels and thus greenhouse gas emissions, starting with €175 million in 2023 and then another €400 million annually.
- The main instrument is to be “contracts for difference”, where the government steps in to cover the price difference between traditional and greener production methods until parity is reached.
Austria presents €5.7bn scheme to aid industry greening
