The German government expects CO2 pricing in the buildings and transport sectors to bring in 18.8 billion euros by 2023 for its climate action package, writes business daily Handelsblatt.

Finance minister Olaf Scholz wants to ensure the package’s implementation through a supplementary budget to be approved by the federal cabinet on 2 October. A main part of the draft budget, seen by Clean Energy Wire, is an economic plan for the country’s Energy and Climate Fund, which is set to grow from 6.1 billion euros this year to 11.75 billion in 2023. Revenues from the European trade of CO2 allowances in energy and industry (EU ETS) are expected to raise an additional 14 billion euros, according to the draft. In all, the German government’s climate package decided on 20 September has a volume of 54.4 billion euros between 2020 and 2023. The draft states that the 2020 budget would not incur any new debt.