Climate Politics
EU Draft Fast-Tracks Five Clean Sectors for Shift to Net Zero
- Europe may tap carbon-market revenue for green transition
- EU is drafting plan to boost local manufacturing capacity
This article is for subscribers only.
The European Union plans to prioritize the growth of five clean technologies — from solar energy to hydrogen — to meet its emissions-reduction goals and stave off competition from the US and China in the race toward a climate-neutral economy.
The European Commission, the bloc’s regulatory arm, wants to accelerate permitting procedures for key projects and is considering setting a 2030 target for the net-zero technology manufacturing capacity to be sufficient to meet at least 40% of the region’s annual deployment needs, according to a draft document seen by Bloomberg News. The headline target includes specific goals for the photovoltaic sector, wind turbines, heat pumps, batteries and electrolyzer production.