Brussels to promote state aid until 2025 to support green industry

This European Commission presented a plan for increase the production of clean technologies and energy, It will be able to compete with the huge subsidies offered to the industry by the European Union and the United States or China.

Brussels price hikes facilitate subsidies to “green” industriesset up a European fund to finance them, speed up permits and reduce bureaucracy, improve access to key raw materials and sign new trade deals, among other actions.

“The shape and location of the zero-emissions economy will be decided in the coming years, and we want to be an important part of this industry that we need globally,” said Ursula, Community Executive Chairman. von der Leyen at the presentation of the plan.

This world market for clean technologies will triple in value to €600,000 million by 2030and the zero-emissions-related European industry moved around 100,000m euros in 2021, double the previous year.

In fact, it has been the United States’ anti-inflationary law, with nearly $370,000 million in subsidies for clean technologies and massive government aid from China planning to invest $280,000 million in the industry over the next five years. years, a Brussels strategy to prevent companies from giving up Europe and improve their competitiveness.

This Green Pact Industry Plan Presented this Wednesday, it compiles initiatives that will contribute to this task, some are already underway and others need to be reflected in specific legislative proposals in the coming months, and is not currently considering new funding, but plans to divert funds from specific community programs to industries that are cleaner.

In the financial column, the most immediate action would be: Relax state aid rules by 2025 to make it easier for governments to grant subsidies, including tax benefitsinvesting in green technologies, renewable projects or industrial decarbonisation, as well as allowing them to use recovery funds to provide this assistance.

This temporary relaxation specifically targets the sectors most affected by US law (solar panels, batteries, wind turbines or heat pumps) and will also allow governments, under certain conditions, to match subsidies that these sectors receive in third countries with those to Avoid. transport of industrial facilities.

In the medium term, Brussels Create a “sovereignty fund” with European financing so that countries with less financial power they can also support their companies and there won’t be a subsidy war within the EU itself.

The Commission has yet to decide on the volume or how it will be financed, and many countries are quickly rejecting the new joint lending option.

While this “structural solution” was being negotiated, Von der Leyen explainedThe EU needs a funding “bridge” that will come from diverting money from state aid and other community funds to the green sector such as Repower EU, Innovation Fund or Invest EU.

“Zero Emission Industry Law”

On the other hand, in mid-March, the Commission made a new “Zero-emissions industry law” focused on increasing the production of strategic products on European soil for climate transitionsuch as batteries, biofuels, carbon capture and storage systems, renewable energy or hydrogen.

This will set production targets for 2030 and simplify rules, speed up the issuance of permits, provide a one-stop shop for investors or develop common European standards for certain technologies.

This effort will be complemented by a law on critical raw materials that facilitate their extraction, processing and recycling in the EU to reduce dependency on third countries, notably China, and the signing of new trade agreements to diversify sources of supply.

Brussels wants to end negotiations with Australia this summer and “make significant progress with India and Indonesia, as well as explore other possibilities in the Indo-Pacific”, and “will offer to ratify agreements with Chile, Mexico and New Zealand and make progress with Mercosur”, confirms Document.

The plan will be discussed by the community heads of state and government at their summit on February 9, and depending on the response, the Commission will present legislative proposals in mid-March.

Source: Informacion

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