EU Announces New Green Proposals , in Response to Biden’s Inflation Reduction Act.
European Commission President
Ursula von der Leyen made the announcement
at the World Economic Forum in Davos on Jan. 17.
We will put forward a new Net-Zero Industry Act... The aim will be to focus investment on strategic projects along the entire supply chain. , Ursula von der Leyen, European Commission president, via statement.
We will especially look at how to simplify and fast-track permitting for new clean tech production sites, Ursula von der Leyen, European Commission president, via statement.
We need to create a regulatory environment that allows us to scale up fast and to create conducive conditions for sectors crucial to reaching net zero. , Ursula von der Leyen, European Commission president, via statement.
This includes wind, heat pumps, solar, clean hydrogen, storage and others, Ursula von der Leyen, European Commission president, via statement.
This includes wind, heat pumps, solar, clean hydrogen, storage and others, Ursula von der Leyen, European Commission president, via statement.
The U.S. Inflation Reduction Act, which was approved by Congress in August, includes $369 billion for climate and energy policies.
However, the European Commission has "serious concerns" about the legislation , since tax credits are only being offered to citizens
who buy electric cars made in North America. .
However, the European Commission has "serious concerns" about the legislation , since tax credits are only being offered to citizens
who buy electric cars made in North America. .
CNBC reports that some European companies have considered relocating to the U.S. as a result. .
In December, guidance was issued by the U.S. Treasury Department that would grant EU companies the ability to benefit from select credits without changing their business models, but it's not yet clear how that would be implemented.
In December, guidance was issued by the U.S. Treasury Department that would grant EU companies the ability to benefit from select credits without changing their business models, but it's not yet clear how that would be implemented.
The EU continues to seek similar, non-discriminatory treatment of EU clean vehicle producers under the Clean Vehicle Credits of the Inflation Reduction Act. , European Commission, via statement in Dec. 2022.
This scheme remains of concern
to the EU, as it contains discriminatory provisions, European Commission, via statement in Dec. 2022
