0 shares Share 0 Tweet 0 Pin 0 Share 0 The European Union will make a law that helps the block’s green industry. The law will be backed up with state aid and a European Sovereignty Fund. The …
The European Union will make a law that helps the block’s green industry. The law will be backed up with state aid and a European Sovereignty Fund. The law’s purpose is to stop businesses from moving to the US.
According to Reuters, Ursula von der Leyen, the head of the European Commission, said this is part of the EU’s Green Deal industrial plan. She hopes Europe will become home to clean technology and industrial innovation and become net-zero by 2050.
“To help make this happen, we will put forward a new Net-Zero Industry Act," she said. "The aim will be to focus investment on strategic projects along the entire supply chain. We will especially look at how to simplify and fast-track permitting for new clean tech production sites," von der Leyen added.”
The EU worries companies will move to the US because of the $369 billion scheme to subsidize green production. The hope is that a new law will keep the EU competitive with the incentives outside the block.
While some EU members think the new aid will only bring more problems, especially for smaller countries, others, such as Italy, France, and Germany, fully support it.
Business & Policies ,
EU Prepares a Law To Boost the Green Industry
by : Marina Maletic | Published: January 23, 2023
0 shares Share 0 Tweet 0 Pin 0 Share 0 The European Union will make a law that helps the block’s green industry. The law will be backed up with state aid and a European Sovereignty Fund. The …
The European Union will make a law that helps the block’s green industry. The law will be backed up with state aid and a European Sovereignty Fund. The law’s purpose is to stop businesses from moving to the US.
According to Reuters, Ursula von der Leyen, the head of the European Commission, said this is part of the EU’s Green Deal industrial plan. She hopes Europe will become home to clean technology and industrial innovation and become net-zero by 2050.
The EU worries companies will move to the US because of the $369 billion scheme to subsidize green production. The hope is that a new law will keep the EU competitive with the incentives outside the block.
While some EU members think the new aid will only bring more problems, especially for smaller countries, others, such as Italy, France, and Germany, fully support it.
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