European Union Launched Green Deal Industrial Plan to Boost Clean-Tech

A Green Deal Industrial Plan has been launched by the European Commission to support the swift transition to climate neutrality and boost the competitiveness of Europe’s net-zero industry. The Plan aims to make the EU’s manufacturing capacity for net-zero technologies and products, which are needed to meet Europe’s ambitious climate goals, more robust by creating a more supportive environment.

The Plan complements ongoing initiatives under the European Green Deal and REPowerEU by drawing on the strengths of the EU Single Market and building on previous endeavours. There are four pillars to it, and open trade for resilient supply chains, a predictable and simplified regulatory environment, faster access to finance, improved skills, and

The European Commission’s President, Ursula von der Leyen, stated that they have a once-in-a-generation chance to lead the industrial lead of the European Union in the rapidly expanding net-zero technology industry with ambition and speed. Using a framework that is simpler and more rapid, it means converting innovative ideas into mass production and skills into high-quality jobs for our businesses and individuals. Their key clean tech industries will be able to rapidly expand if they have better access to finance.

A Net-Zero Industry Act will be proposed by the Commission to set goals for net-zero industrial capacity and provide a regulatory framework for its rapid implementation. It will also promote European strategic projects and create standards to help scale up technologies across the Single Market.