EU Sets Out New Green Plans as Biden Subsidies Raise the Stakes
- Commission unveils plans to boost green industry domestically
- Reaction is mixed as some industries say it’s not enough
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The European Union unveiled a raft of new measures aimed at nurturing green tech and securing raw materials as it seeks to keep its place in the race with the US and China amid growing global protectionism.
The European Commission presented goals to ramp up the processing of key metals in Europe, measures to make green-energy investments easier, and incentives for renewables and carbon-capture. Its Net Zero Industry Act aims to keep clean tech manufacturing within Europe with a 40% target for key sectors like solar panels and batteries by the end of the decade.