The European Commission unveiled the Clean Industrial Deal on Wednesday, to boost Europe's industrial competitiveness while expediting decarbonization. It aims to mobilize, in the short-term, over €100 billion for clean manufacturing, with a focus on renewable energy, industrial decarbonization, and the capacity for clean tech production.
In a statement, the CommissionEC said key measures include simplifying state aid approval for green energy projects and establishing an Industrial Decarbonisation Bank, which will utilize additional funds to support innovation in sustainable industries. The adjustment to the InvestEU Regulation is expected to unlock up to €50 billion in investment.
"The Clean Industrial Deal is to cut the ties that still hold our companies back and make a clear business case for Europe," European Commission President Ursula von der Leyen emphasized.
