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The Environmental Protection Ministry said it would award a total of NIS151 million over the next two years to projects and investments aimed at reducing greenhouse gas emissions as part of efforts to achieve a 20 percent reduction in gases by 2020.
A joint effort the Ministry and the Industry, Trade and Labor Ministries have approved budget calls for NIS 40 million to go to specific projects and commercial installations . The remaining NIS 111 million will be allocated towards projects and investments seeking to reduce greenhouse emissions.
"This project is a huge leap forward in relation to the state of the environment," Environmental Protection Minister Gilad Erdan said in a statement. "For the first time, the government in Israel is budgeting unprecedented sums to the reduction of greenhouse gas emissions. "
Over the next decade, the Environment Ministry expects to see a total of NIS 2.2 billion invested toward its goal of a 20% reduction in greenhouse gases by 2020.