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The European Parliament passed the Net Zero Industry Act (NZIA), which aims to increase domestic manufacturing of decarbonization technologies in the EU and sets a target of at least 40% of net zero technology demand being produced locally by 2030.
The bill proposes to promote investment in domestic strategic technologies such as solar energy, wind energy, carbon capture, battery storage and renewable hydrogen, and adopt measures such as accelerating the issuance of licenses, establishing a platform to promote cooperation, and increasing skilled workers.
Lawmakers also proposed expanding the scope of the bill to cover the entire supply chain of net-zero technologies, including components, materials and production machinery, and adding to the list of technologies including nuclear fission, fusion technology and sustainable aviation fuel (SAF).
The bill aims to increase the competitiveness and independence of the EU in the green technology sector, supported by funding schemes such as InvestEU, the Innovation Fund and the European Sovereign Fund.
(Source: thenextweb Image source: freepik)
