Europe’s biggest CO2 polluter, RWE, aims to become carbon neutral within 20 years as it shuts its coal power plants and focuses on wind, solar and storage following the takeover of the renewables activities of subsidiary Innogy and rival E.ON.

“We will be a carbon neutral company by 2040,” RWE CEO Rolf Martin Schmitz said at a press conference marking the official launch of “the new RWE”. The company said it had already decreased its CO2 output by one third from 2012 to 2018, representing a decline of 60 million tonnes. The company is aiming for a reduction of approximately 70 percent by 2030. Germany plans to exit coal-fired power generation by 2038 at the latest, according to Cleanenergywire.com.