European Commission unveils Green Deal Industrial Plan


The European Commission has launched its Green Deal Industrial Plan, a series of strategies aimed at boosting the competitiveness of Europe’s net-zero industries.

According to ESG Today, the plan focuses on key areas including creating a simpler regulatory framework to facilitate net zero industries, upskilling the European workforce for the green transition, accelerating access to investment and financing, and enhancing global trade cooperation for cleantech and raw materials.

The plan was first introduced by Ursula von der Leyen – the EU Commission President – at the World Economic Forum at Davos in January.

Some of the plans to create a more predictable and simplified regulatory environment will include a net-zero industry act that is aimed at providing faster permitting to facilitate the quick deployment of the EU’s net-zero industrial capacity and net-zero technologies.

In addition, a Critical Raw Materials Act will focus on ensuring access to materials needed for manufacturing clean energy-focused technologies. The plan, ESG Today adds, also envisions a reform of the electricity market enabling consumers to benefit from the lower costs of renewables.

In the area of finance and investment, the plan involves simplifying and accelerating aid granting at the state level to promote investment in key sectors. The Commission said that it will also propose a European Sovereignty Fund aimed at boosting resources for upstream research, innovation and strategic industrial projects.

To upskill and reskill the workforce for the green transition, the plan also includes plans to establish Net-Zero Industry Academies targeting specific industries, and will also focus on improving labour participation for youth, women and older workers, aligning public funding for skills development, and facilitating third country nationals to EU labor markets in priority sectors.

The Commission said that it aims to foster global cooperation and enable trade to help facilitate the green transition, with plans to develop a network of free trade agreements.

The Commission also said that it will explore the creation of a Critical Raw Materials Club, ensuring the supply of critical raw materials bringing together raw materials users and resource-rich countries.

Von der Leyen said, “We have a once in a generation opportunity to show the way with speed, ambition and a sense of purpose to secure the EU’s industrial lead in the fast-growing net-zero technology sector. Europe is determined to lead the clean tech revolution.”

Credit risk analysis and management firm Cerved has recently partnered with Greenomy to help Italian companies ensure compliance with new EU sustainable finance.

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