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Switzerland approves law targeting climate neutrality by 2050

Swiss voters have approved the climate law and innovation, which establishes the framework for the country's climate policy, targeting carbon neutrality by 2050, with interim objectives of at least 64% reduction in greenhouse gas (GHG) emissions between 2031 and 2040, at least 75% reduction until 2040 and at least 89% reduction between 2041 and 2050 compared to 1990 levels. The law also sets indicative sectoral targets for buildings (-82% by 2040, -100% by 2050), transports (-57% by 2040, -100% by 2050), and industry (-50% by 2040, -90% by 2050), compared to 1990 levels.

To support this goal, incentive instruments are planned. Financial support will be provided for replacing fossil fuel heating systems with climate-friendly alternatives with a maximum of CHF200m/year (€204m/year) for this purpose over a 10-year period. In addition, the government will offer financial support to businesses on the path to climate neutrality, using existing financial support measures for the adoption of climate-respecting innovative technologies and processes.

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