€470 mn Allocated for Making 6 Largest Emission Producers More Ecological

       Bratislava, September 12 (TASR) - Almost €470 million from the Modernisation Fund has been allocated to support making U.S. Steel Kosice, Duslo Sala, Mondi SCP, Slovnaft, Rona and Danucem Slovensko more ecological, Environment Minister Milan Chrenko and Economy Minister Peter Dovhun announced at a joint press conference on Tuesday after an assessment of the industry decarbonisation scheme.
       The six industrial enterprises are among biggest greenhouse gas-emission producers and are part of the emission quota-trading system.
       According to the environment minister, the projects are an example of how to couple environmental responsibility with technological modernisation and make Slovak industry more competitive. "I trust that we opened a chapter today in which sustainable economic growth and environmental responsibility will meet each other more often because no other way exists towards a prosperous and green Slovakia," stated Chrenko.
       According to the economy minister, green investments pose an opportunity for Slovak industry to introduce new technologies, innovate and generate new jobs with higher added value.
       The projects are designed to cut all emissions released in 2022 by companies involved in the emission quota-trading system by almost 19 percent. Two criteria were employed during the assessment of projects: the overall volume of reduced emissions and the lowest cost per reduction of one tonne of CO2.
       The call for projects under the Modernisation Fund is part of state aid for the decarbonisation of industry launched on March 31, 2023 and concluded on June 30, 2023. About €750 million has been earmarked for the decarbonisation and modernisation of industry until 2030. The resources of the Modernisation Fund come predominantly from the sale of emission quotas of Slovakia's industrial enterprises abroad.