Germany to phase out oil and gas heating systems.

The German cabinet has approved a bill that will ban most new oil and gas heating systems from 2024, with the aim of cutting greenhouse gas emissions. The policy has met resistance from critics who warn it could be costly for poorer households. The shift could cost Germans around €9.16bn ($10bn) annually until 2028, according to the draft bill. The government will offer a subsidy of up to 50% for replacement heating systems, with the money coming from the Climate and Transformation Fund. The bill gives some exemptions, for instance for homeowners who are over 80 years old and living in hardship.