The German government has introduced a plan to phase out coal-fired power entirely by 2038 — a target that could cut the country’s carbon dioxide emissions by a quarter, Reuters reported. The agreement includes a $44 billion fund to compensate workers, companies, and regional governments impacted by the transition off of coal.
Germany currently generates one-third of its electricity from coal, and is also the world’s biggest producer of lignite, or brown coal, considered the dirtiest type of coal. Government leaders said the new policy would help spur the country’s shift toward renewable energy sources such as wind and solar. Germany has previously committed to phasing out nuclear power by 2022.
“This is not just an exit from coal, it’s an entry into renewable energy,” environment minister Svenja Schulze told reporters.
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