The European Commission on Friday approved a €4 billion ($4.3 billion) German state aid scheme to help companies decarbonize their industrial production process. The funds will support firms from sectors such as chemistry, metal, glass or paper sectors, which are subjected to the EU Emission Trading System. Under this system, companies have to buy pollution certificates if they emit CO2. The aim is to create an incentive to produce less of it. Companies must reduce 60% of their emissions in three years and 90% of their emissions in 15 years to be eligible for German state assistance. In its as…