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President of the European Commission presents “Net Zero Industry Act”

President of the European Commission presents “Net Zero Industry Act”
alarmPublication date: 19 January, 2023
Category: International News , Investigation

On the 17th of January, in Davos, President Ursula von der Leyen presented the European proposal “Net Zero Industry Act”  aiming to support the green industry within the European Union and to prevent its relocation to other territories. This is considered a response to the incentive package created by the US Government under the “IRA – Inflation Reduction Act”. The proposal is part of the EU’s Green Deal, which aims make Europe the world’s “hub” of clean technology and industrial innovation towards carbon neutrality by 2050.

The European Union will prepare the “Net Zero Industry Act” to boost and facilitate the activity of its green industry using both state aids and a European Sovereignty Fund. Special emphasis is placed on streamlining the permitting of new clean technology production sites, taking into account the whole supply chain.

At LNEG we are working towards this goal on several levels:

  • In the identification and analysis of geological, energy and biomass resources in our territory;
  • Studying circular economy options, both for waste and by-products and for critical raw materials vital to the economy;
  • In the design of trajectories towards industry carbon neutrality;
  • In the study of the national territory, identifying sites where permitting of new plants could be streamlined without compromising the safeguarding of natural and cultural heritage;
  • In the development of materials and technologies that support the energy transition.

More information on the “NET Zero Industry Act”: https://www.reuters.com/business/sustainable-business/eu-prepare-law-help-its-green-industry-back-it-with-cash-commission-2023-01-17/