EU Seeks to Simplify Rules in Global Race to Boost Clean Tech
- The European Union will propose a response to Biden’s IRA
- The bloc will launch an auction to produce renewable hydrogen
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The European Union is seeking to rapidly accelerate production of clean technologies by offering tax credits and domestic subsidies to companies in a bid to catch up with US President Joe Biden’s landmark green package.
The European Commission, the EU’s executive arm, will propose a plan enabling the bloc to avoid strategic dependencies on key clean technologies by diversifying suppliers and developing local production, according to a draft of the commission’s Green Deal Industrial Plan seen by Bloomberg News.