BERLIN, Oct. 1 (Xinhua) -- A pricing on the emission of CO2 is expected by the German government to result in total revenues of around 18.8 billion euros (20.5 billion U.S. dollars) by 2023, according to a report by the German newspaper Handelsblatt published on Tuesday.
Combined with the proceeds from the trading with CO2 allowances in the energy sector and the transfer from a reserve, the revenues from the pricing on CO2 emissions in the sectors of buildings and transportation would be the "main source of funding" for the German governmental energy and climate fund (EKF), Handelsblatt reported.
The EKF is the main financing instrument for climate protection measures of the German government such as the energy-efficient renovation of buildings.
According to the Handelsblatt report, Finance Minister Olaf Scholz is planning to increase the volume of the governmental EKF from 6.1 billion euros in 2019 to 11.75 billion euros in 2023.
In total, the German government sought to spend more than 54.4 billion euros on climate protection measures between 2020 and 2023, Handelsblatt reported.
In-mid September, the German government had agreed on a climate action plan. One of the measures, with which the government is aiming for better climate protection, is to put a price on the emission of CO2.
Starting in 2021, the price for the emission of one ton of CO2 is set to gradually increase from 10 euros to 35 euros in 2025, according to the plan.
The climate action plan of the German government had met criticism among the political opposition, environmental activists as well as environmental experts in Germany.
