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… Read More
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.
Marina is passionate about sustainability and works to help ensure our planet stays as our home for a long time. She takes part in environmental conservation by recycling and not buying single-use plastic. When not writing, she can be found with her nose stuck in a book or trying out new baking recipes.
EU Prepares a Law To Boost the Green Industry
Marina Maletic | Category : Business & Policies | 0 minutes read
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… Read More
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.
More inspiring green news similar to this:
Marina Maletic
Marina is passionate about sustainability and works to help ensure our planet stays as our home for a long time. She takes part in environmental conservation by recycling and not buying single-use plastic. When not writing, she can be found with her nose stuck in a book or trying out new baking recipes.
Latest News
Trending on GreenCitizen
Our Services
Category: Business & Policies, Environmental Policies, Environmental Regulations, Green Industry, Green News