Europe, according to the European Green Deal, by 2050. is set to become the first continent to achieve climate neutrality. The European climate law includes an EU commitment to achieve climate neutrality and an intermediate target of reducing net greenhouse gas emissions by at least 55% by 2030. Compared to 1990 levels.
In order to strive for climate neutrality, the European Commission on February 1, 2023. presented the “Green Deal Industrial Plan,” which aims to increase the competitiveness of Europe’s carbon-neutral industry and support a rapid transition to climate neutrality.
The basic premises of the presented plan are:
- Predictable and simplified regulatory environment. Propose a Climate Neutral Industry Act, which will set targets for carbon-neutral industrial capacity and create a regulatory framework to facilitate its rapid implementation by providing a simplified and expedited licensing system, promoting strategic European projects and developing standards to support technology development throughout the single market.
- Faster access to financing. Consult with member states, on a temporary framework for emergency and transitional state aid, and review the General Block Exemption Regulation in light of the Green Deal. Raise the thresholds above which support for green investments must be reported. The EC will also facilitate the use of existing EU funds to finance innovation, production and deployment in the field of clean technologies.
- Skills enhancement. Establish a carbon-neutral industry academy to introduce upskilling and re-skilling programs in strategic industry sectors.
- Open trade to ensure resilient supply chains. The development of the EU’s network of free trade agreements and other forms of cooperation with partners are aimed at supporting the green transition. Protect the single market from unfair practices in the cleantech sector and use available instruments to ensure that foreign subsidies do not distort competition, including in the cleantech sector.
The Green Deal Industrial Plan is available on the European Commission‘s website.