Glencore Nordenham awarded climate protection contract by German Ministry for Economic Affairs and Climate Action

Glencore Nordenham (“Nordenham”), a producer of lead and zinc located in northwestern Germany, is to receive nearly €360 million in funding from the German government over the next 15 years. It was awarded one of the first 15 climate protection contracts issued by Germany’s Ministry for Economic Affairs and Climate Action (Bundesmininsterium für Wirtschaft und Klimaschutz, BMWK).

The grant will be used by Nordenham to support projects that are aimed at reducing the site’s carbon emissions, helping it to continue on its path of making the operation increasingly sustainable.  Each tranche will be paid out in arrears, once Nordenham has achieved specific emissions reduction targets agreed with the government.

To mark the agreement, German Federal Minister of Economics, Robert Habeck, handed over a symbolic cheque to Nordenham General Manager Thomas Hüser on behalf of the BMWK in Berlin. 

“Nordenham is one of the oldest industrial companies in the region and has been producing lead and zinc for over 100 years. Throughout its history, Nordenham has strived to continue to move with the times and adjust its processes to make them more efficient,” said Thomas Hüser, General Manager of Glencore Nordenham. “We’re grateful for the grant awarded to us by Minister Habeck and the Ministry for Economic Affairs and Climate Protection to support us in our next step on this journey and are proud to have received one of the first climate protection contracts.”. 

The climate protection contracts, a new public funding vehicle created to support companies in investing in modern, climate-friendly production processes in energy-intensive industrial sectors, is one of the first of its kind in Europe. The German government will be providing up to €2.8 billion to Nordenham and 14 other successful companies. 

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