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European Net-Zero Industry Act: Improve funding programs and framework conditions for green technologies
As www.faz.net reports, the European Union is finding it difficult to find an answer to the billion-dollar American and Chinese funding programs for the production of green technologies. A compromise called the “Net Zero Industry Act” was found, which is intended to improve the framework conditions for green technologies. This agreement is intended to ensure that domestic products receive preferential treatment in tenders and auctions (“Buy European”). The list of technologies covered by this law will be greatly expanded to meet the goal of building capacity to capture 50 million tonnes of CO2 in the EU by 2030. In addition, there are specifications for the proportion of...
European Net-Zero Industry Act: Improve funding programs and framework conditions for green technologies
As www.faz.net reports, the European Union is finding it difficult to find an answer to the billion-dollar American and Chinese funding programs for the production of green technologies. A compromise called the “Net Zero Industry Act” was found, which is intended to improve the framework conditions for green technologies. This agreement is intended to ensure that domestic products receive preferential treatment in tenders and auctions (“Buy European”). The list of technologies covered by this law will be greatly expanded to meet the goal of building capacity to capture 50 million tonnes of CO2 in the EU by 2030. There are also specifications for the proportion of domestic production and faster approval procedures for green technologies.
The impact of this agreement on the market and the financial industry could be significant. The increased investment in green technologies could result in companies in this sector benefiting and being viewed as attractive investment opportunities. Preferential treatment of domestic products in tenders and auctions could strengthen European green technology manufacturers and give them a competitive advantage.
The changed approval procedures and incentives to promote green technologies could stimulate investment in this area and lead to the creation of new jobs. However, it is important to note that these measures could also have an impact on the costs and competitiveness of European industry. The scarcity of new funds to promote green technologies could also impact willingness to invest.
It remains to be seen how the official adoption of the “Net Zero Industry Act” by the European Parliament and the Council of Ministers will proceed. However, the agreement could represent an important step towards the decarbonization of European industry and make Europe more attractive as a location for investment in green technologies.
Read the source article at www.faz.net