Save for later Print Download Share LinkedIn Twitter As part of 2030 plans to decarbonize the French economy, Paris has earmarked €5.6 billion ($6.4 billion) to decarbonize French industry. Most of the money will go toward projects at industrial sites, with roughly €600 million set aside for research projects. The plan was announced last week by Prime Minister Jean Castex, visiting an ArcelorMittal steel plant. The announcement comes just after the French steel industry launched a carbon-neutral by 2050 plan last week. ArcelorMittal, for example, plans to use hydrogen and direct electrification at blast furnaces in Fos-sur-mer and Dunkirk to reduce greenhouse gas emissions. French Ecological Transition Minister Barbara Pompili tweeted that decarbonizing these two steel plants would save 2% of France's total greenhouse gas emissions. France is also targeting low-carbon technologies such as green hydrogen, electric vehicles and small modular nuclear reactors, alongside decarbonizing industry.