Energy
Preliminary Approval Issued for Net Zero Industry Act
The European Union’s Committee of Permanent Representatives has signed off legislation to ramp up production of transformative technologies.
Feb 22, 2024
The Net Zero Industry Act aims to combat climate change by encouraging technologies like solar and wind energy, batteries and heat pumps within the European Union.
“Today’s decision secures a strong position for European industry among its global competition,” said German Minister for Economic Affairs and Climate Action Robert Habeck in a statement. “It creates clarity and planability, allowing us to attract investments into transformative technologies in Europe. We have set ourselves a common goal of producing 40 percent of the EU’s demand for transformative technologies within the EU itself by the year 2030. In addition, we’re creating areas in which locating production here can be accelerated and made easier.”
The approval is a major step in the Net Zero Industry Act becoming European law. The legislation now goes to the European Parliament and the EU Council of Ministers for final ratification.
