EU leaders agree on targeted, temporary support for green industry | – #leaders #agree #targeted #temporary #support #green #industry
BRUSSELS, 10 February (Reuters) – European Union leaders agreed on Friday to secure Europe’s future as a manufacturing base for green technology products and USA and allow “targeted, temporary and proportionate” support to counter Chinese competition.
Europe Commission, in part USAIn response to the Inflation Reduction Act (IRA) of 2008, the relaxation of rules on state aid for investments in renewable energy, decarbonization industries, hydrogen or zero-emission vehicles offer did
EU leaders have expressed concern that the 369 in the IRA billion local content requirements of many of the dollar subsidies, with companies abandoning Europe USA will encourage for
German Chancellor Olaf Scholz expressed his confidence that negotiations between transatlantic partners can limit discrimination against companies based in Europe.
He said at a press conference at the end of the leaders’ summit held in Brussels: “We must do our homework when looking at our competitiveness and do everything to avoid international subsidy competition.”
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According to estimates by the International Energy Agency, the global market for mass-produced clean energy technologies will triple to 650 per year by 2030. billion will reach the dollar.
Europe wants a piece of the action, but from solar panels to wind turbine blades and car sectors such as batteries are dominated by China with more than 50% of the market.
The Commission has passed the Net-Zero Industry Act to speed up permits for green projects and the Critical Raw Materials Act to increase recycling and diversify sources to reduce dependence on Chinese processors. offer is going to do.
Commission President Ursula von der Leyen said that the EU leaders will be presented before the next meeting on March 22-23.
Funding is proving the most contentious element of the plan.
There is widespread opposition to joint borrowing, and some worry that looser state aid rules will upset the EU’s internal market, as the two largest economies, Germany and in France subsidies will dwarf offerings elsewhere.
The Netherlands, Ireland, the Czech Republic and the Scandinavian countries are concerned that this could lead to too many untargeted subsidies, and the EU unit they said that the improvement of the market will be more effective.
Reporting by Philip Blenkinsop
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2023-02-10 17:02:10
Source – reuters
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