The European Commission, the top competition regulator in the European Union, approved a German state aid scheme for industry worth €2.2 billion ($2.4 billion) on Wednesday. The German support scheme is designed to help industrial companies reduce their carbon emissions and support their transition away from fossil fuels towards renewable energy sources. To be eligible to receive German state aid, projects must reduce carbon emissions by at least 40% compared to current levels, a statement from the commission said. Additional conditions require companies to electrify their production process o…