The proposed Regulation will create better conditions to set up net-zero projects in Europe and attract investments, with the aim that the Union’s overall strategic net-zero technologies manufacturing capacity approaches or reaches at least 40% of the Union’s deployment needs by 2030. This will accelerate the progress towards the EU’s 2030 climate and energy targets and the transition to climate neutrality, while boosting the competitiveness of EU industry, creating quality jobs, and supporting the EU’s efforts to become energy independent.
President von der Leyen announced this initiative as a part of the Green Deal Industrial Plan. Together with the proposal for a European Critical Raw Materials Act and the reform of the electricity market design, the Net-Zero Industry Act sets out a clear European framework to reduce the EU’s reliance on highly concentrated imports.
To further support the uptake of renewable hydrogen within the EU as well as imports from international partners, today the Commission is also presenting its ideas on the design and functions of the European Hydrogen Bank.
More information:
European Critical Raw Materials Regulation
Critical Raw Materials and Trade – Infographic
Actions on Four Critical Raw Materials - Infographic
Details
- Publication date
- 16 March 2023
- Author
- Representation in Ireland