Source: European Parliament
Europe’s industrial base is essential for competitiveness and prosperity. Yet, rising geopolitical tensions, slow economic growth and technological competition pose important challenges.
The high cost of energy, which weighs on European citizens and penalises European industry in global competition, sheds light on the urgency to reduce the EU’s dependency on fossil fuels and to accelerate the transition towards clean energy and technologies.
The Clean Industrial Deal[1] brings forward concrete initiatives to strengthen the business case for competitiveness and decarbonisation in Europe.
It includes actions to improve access to affordable energy, lead markets, materials and circularity, funding and skills, as well as to a level international playing field, thus answering to the call of European industry[2].
For instance, it announces counter-guarantees to facilitate the take up of corporate power purchase agreements, simplification of permitting to access energy infrastructure and more funding through the Industrial Decarbonisation Bank and the revision of InvestEU[3].
The implementation of these actions will tackle challenges that European industries face and will thus have a positive impact on the EU’s competitiveness.
Most of the actions announced by the Clean Industrial Deal will be implemented or, in the case of legislative proposals, presented by the Commission in 2025.
The measures will not impose burdens on individual companies. Instead, they will support industry, in particular energy intensive and clean tech industries, and workers involved in the industrial transition.