NEW - Germany's incoming Chancellor Merz (CDU), a former BlackRock executive, wants to codify "climate neutrality" in the constitution as a gift to the Greens in exchange for their approval of the upcoming €500 billion debt deal, debt brake overhaul.

Merz also promises the Green Party that €100 of the €500 billion in new debt will be channelled into Germany's "climate and transformation fund." Merz did not communicate this to CDU voters or to the public before the election.