Published on Tuesday, June 11, 2024

Europe | "Net zero" industry to become more competitive

The European Union (EU) has resolved to achieve climate neutrality by 2050 and, in order to do so, has established an ambitious and decisive strategy whose effects are already beginning to be felt.

Key points

  • Key points:
  • Greenhouse gas emissions have been reduced by 30% from 1990 levels, making progress toward the target of cutting emissions by 55% by 2030 and achieving carbon neutrality by 2050.
  • Europe is committed to the reindustrialization and the reinforcement of its strategic autonomy, acting independently without any protectionist measures or actions that go against its values of cohesion and competitiveness.
  • To lead the global revolution in clean technology, the EU relies on the Green Deal Industrial Plan, aimed at enhancing the competitiveness of net-zero industries and promoting the transition towards climate neutrality.
  • As part of the Plan, the recently approved Net-Zero Industry Act (NZIA), which is scheduled to come into force at the end of June, is a major step forward.

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