EU’s new green tech strategy aims to keep production in the bloc

On Thursday, the European Commission unveiled the Net-Zero Industry Act, a much-anticipated proposal aiming at boosting the EU’s green tech production amidst an increasingly intense global race. The new regulation is a key part of the European Green Industrial Plan — the bloc’s response to the US’ $369 billion package of green subsidies — seeking to ensure that at least 40% of the union’s net-zero technology demand is produced domestically by 2030. “We need a regulatory environment that allows us to scale up the clean energy transition quickly,” President of the Commission, Ursula von der Leyen, said in a statement.…

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