EU leaders agree targeted, temporary support for green industry

The International Energy Agency estimates the global market for mass-produced clean energy technologies will triple to $650 billion a year by 2030.

Europe wants a piece of the action, but sectors from solar panels to wind turbine blades and vehicle batteries are dominated by China, with well over 50% of the market. The Commission is set to propose a Net-Zero Industry Act to speed up permits for green projects and a Critical Raw Materials Act to boost recycling and diversify sourcing to be less reliant on Chinese processors.

Commission President Ursula von der Leyen said they would be presented before the next time EU leaders meet on March 22-23.There is widespread resistance to joint borrowing and some concern that looser state aid rules would unsettle the EU internal market because subsidies in the two largest economies, Germany and France, would dwarf offerings elsewhere.

Countries such as the Netherlands, Ireland, the Czechs and the Nordics have expressed concern this could lead to excessive non-targeted subsidies and say work to improve the EU single market would be more effective.

Temporary....yet climate change impact is permanent....not serious

Wtf do these pollies bother when they are sending enough weapons to Ukraine with massive CO2 emissions they say it bad and the nuclear war coming up🤪🤪🤪

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