Germany passed a bill on Friday that commits Europe’s biggest economy to reduce greenhouse gas emissions to 55% of the 1990 levels by 2030.

The transition is projected to cost €54bn by 2023 that will be funded by the federal budget and new taxation. The bill will also present the private sector with a series of incentives to reduce the CO2 footprint.

“Every minister who doesn’t stick to the goals will have to explain themselves to this chamber,” said SPD lawmaker Matthias Miersch.

The leader of the Green Party’s parliamentary group, Anton Hofreiter, called into question the credibility of the bill and the ability of the government to deliver. Germany lugs behind on its current environmental transition roadmap, having achieved only 30% of its 2030 objective.

Taking a different line of opposition, the Liberal Free Democrats have accused the government of “climate hysteria” pointing to the new taxation tugged on the bill. In terms of everyday spending,  new taxation will affect aviation with income used to subsidise train travel.

Spending will also have to be allocated to preparations for rising water levels in the North and Baltic Seas.