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EU strikes deal on Net-Zero Industry Act

February 7, 2024

EU’s green leap: Net-Zero Industry Act to revolutionise clean technology, boosting sustainable manufacturing and climate goals.

Europe moves forward in green technologies; the Council and the European Parliament have provisionally agreed upon the ‘Net-Zero Industry Act’ (NZIA), a pivotal regulation aimed at bolstering the EU’s manufacturing sector of net-zero technology products.

This regulatory framework enhances Europe’s capabilities in producing crucial green technologies, supporting the EU’s climate objectives. The agreement introduces a unified list of net-zero technologies alongside criteria for identifying strategic projects within these technologies that will significantly aid decarbonisation efforts.

Flemish Minister for Economy, Innovation, Work, Social Economy, and Agriculture Jo Brouns hailed the NZIA as a critical step towards facilitating the industry’s transition towards sustainability. “With the Net-Zero Industry Act, we want to support our industry in its transition. The NZIA is an important step in creating the necessary ecosystem to boost the manufacturing of clean technologies. Europe launched a pathway towards a cleaner and sustainable future for the European industry. Now the time is ripe for Europe to take back the lead on the global scene for clean technologies and to build a competitive, green, and job-creating industrial sector,” Brouns stated.

The NZIA encompasses measures to ease investment in green technologies, including streamlined permit-granting procedures and enhanced market access for strategic products. It also seeks to bolster the European workforce’s skills in these sectors, notably by creating net-zero industry academies and establishing a platform coordinating EU actions in this area. Additionally, the act proposes favourable regulatory environments for developing and validating innovative technologies, aiming to reach a production capacity that covers 40% of the EU’s needs in strategic technology products by setting indicative benchmarks.

As part of the agreement, the regulation will promote the development of net-zero acceleration ‘valleys’ to foster clusters of industrial activity, thereby enhancing the EU’s attractiveness as a manufacturing hub.

The regulation now awaits formal adoption by both the Council and the European Parliament, marking a significant stride towards achieving climate neutrality and reinforcing Europe’s leadership in the global clean technology sector.

Categories : World Focus

Tags : Climate Goals Environment EU Net Zero Sustainability

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