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Federal Cabinet adopts business plan for the Climate and Transformation Fund (CTF)
Important boost for investments in forward looking technologies and climate action
The Federal Cabinet today approved the government draft for the business plan of the Special Climate and Transformation Fund (CTF) for 2024 and the financial planning up to 2027, which was submitted under the leadership of the Federal Ministry of Finance.
Programme spending in the 2024 business plan amounts to €57.6 billion. Of this, €47.4 billion will go to programmes of the Federal Ministry for Economic Affairs and Climate Action (BMWK). For the years 2024 to 2027, the Federal Government plans to invest a total of €211.8 billion via the CTF. In this way, the CTF continues to make a key contribution to achieving Germany’s energy and climate policy goals, to developing and attracting forward-looking technologies, and thus to realising the transformation toward a sustainable and climate-neutral economy.
The main spending priorities of the Federal Ministry for Economic Affairs and Climate Action in the CTF business plan are geared towards these goals and provide an important boost for investments in forward-looking technologies, the development of production capacities and climate action.
The key tasks are as follows, each relating to the year 2024:
Funding for efficient buildings, including alleviating the social burden of the new Buildings Energy Act (around €18.8 billion)
The financing of the EEG (Renewable Energy Sources Act) (around €12.6 billion)
Transformation programmes in the field of microelectronics, the development of production capacities for transformation technologies and raw materials (around €4.1 billion),
The ramp-up of the hydrogen economy, including the hydrogen strategy for foreign trade (including H2Global) and the decarbonisation of industry (around €3.7 billion)
The electricity price compensation to reduce the costs imposed on companies by European emissions trading (approx. €2.6 billion)
The promotion of electric mobility by the Federal Ministry for Economic Affairs and Climate Action, including battery cell production (around €1.6 billion)
Energy efficiency in industry and commerce (around €850 million)
The transformation of the heating networks (around €800 million)
In the case of microelectronics, funding previously distributed among various titles in the federal budget will now be pooled centrally in the CTF. In the future, this will strengthen the component Germany’s transformation towards a sustainable and climate-neutral economy in the CTF and ensure that this key technology comes to Germany. Microelectronics are a lever and an indispensable basis for the success of important transformation processes. Semiconductor products are essential and a multiplier for value creation in almost every economic activity in Germany and Europe.
In the future, the aim is that ‘Made in Germany’ will also apply to many other important transformation technologies, e.g. the manufacture of solar systems. For this reason, we will also use the CTF in the future to promote investments for building the required production capacities.
The draft business plan will now be sent to the Bundestag for parliamentary procedures along with the draft federal budget.
The Climate and Transformation Fund is a special fund under the lead responsibility of the Federal Ministry of Finance. The financial management of the fund is largely the responsibility of the Federal Ministry for Economic Affairs and Climate Action.
