EU leaders agree targeted, temporary support for green industry - BusinessWorld Online

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EU leaders agree targeted, temporary support for green industry - BusinessWorld Online
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European Union leaders agreed on Friday they should allow 'targeted, temporary and proportionate' support to ensure Europe's future as a manufacturing base for green tech products and counter US and Chinese competition.

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THE MAIN entrance of the European Union Commission headquarters is seen in Brussels July 1, 2013. — REUTERS

EU leaders have expressed concern that local content requirements of much of the $369 billion of subsidies in the IRA have will encourage companies to abandon Europe for the United States. The International Energy Agency estimates the global market for mass-produced clean energy technologies will triple to $650 billion a year by 2030.

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