The European Green Deal, presented in December 2019, aims to make Europe the first climate neutral continent by 2050. To this end, a legislative package has been created that provides a map to achieve these climate ambitions. Thus, the REPowerEU Plan accelerates the transition away from imported Russian fossil fuels, or the Circular Economy Action Plan sets the framework to transform EU industry into a net-zero era. For its part, the Green Deal Industrial Plan, presented on 1 February, seeks to boost the net-zero industry and ensure that the objectives of the European Green Deal are met in time.
Within this Industrial Plan, highlights the proposal for regulation on the Net-Zero Industry Act, published in March 2023.
This law aims to strengthen the manufacturing of clean technologies in the EU and ensure a successful transition to clean energy. It seeks to increase the resilience and competitiveness of the manufacture of net-zero-emission technologies, as well as make the energy system safer and more sustainable.
- The law establishes favourable conditions for investment in net-zero emissions technologies by simplifying permitting processes and prioritising strategic net-zero projects. It also accelerates CO2 capture and sets a target for annual CO2 injection capacity at strategic storage sites. In addition, it facilitates market access by requiring public authorities to consider sustainability and resilience criteria in public contracts or auctions.
- The law also enhances skills by ensuring a skilled workforce and encouraging the creation of academies for a net-zero industry. It also promotes innovation by enabling Member States to set up controlled test spaces for innovative net-zero technologies.
- It is also envisaged that a European Zero-Emissions Platform will be set up to coordinate action and exchange of information between the Commission and the Member States. In addition, ideas are presented on the configuration and functions of the European Hydrogen Bank to promote the production of renewable hydrogen.
In short, the Net Zero Industry Act aims to boost investment in clean technologies, strengthen the manufacturing of net-zero technologies and accelerate the clean energy transition in the EU.