German parliament passes coal exit bill

Germany’s Bundestag, the lower house of parliament, on Friday passed a bill on the country’s exit from coal as a power source to meet climate targets.North Rhine-Westphalia’s Prime Minister Armin Laschet, Saxony’s Prime Minister Michael Kretschmer, Saxony-Anhalt’s Prime Minister Reiner Haseloff and Brandenburg’s Prime Minister Dietmar Woidke arrive for a news conference on coal phase-out laws in Berlin, Germany July 3, 2020.

The bill involves over 50 billion euros ($56 billion) for mining and power plant operators, affected regions and employees to cushion the impact of the transformation from coal to renewables.

Economy minister Peter Altmaier praised the deal, calling it a defining moment in German history.

“This is an irrevocable beginning of the end of the fossil fuels age,” he said in parliament.