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Brussels – Europe’s industry is set to be transformed with billions from emissions trading and guarantees for cheaper energy, hopes the European Commission, which also wants to focus more on recycled critical raw materials.
The new “clean industry deal” includes a large fund, financed partly through emissions trading, to help companies transition to more sustainable production.
“The future starts today. I am convinced that our industries and workers will benefit from this revolution,” says European Commission Vice President Teresa Ribera at a press conference in Brussels.
The Swedish industry organization Svenskt Näringsliv’s CEO Jan-Olof Jacke notes that it is now important to “drive economic development”.
“It is possible to manage while keeping the direction of the climate transition fixed. We need to achieve more fossil-free electricity at competitive costs,” he comments for TT.
At the same time, the commission is also presenting extensive regulatory simplifications to reduce bureaucracy. The first part primarily means that fewer companies in the EU need to worry about climate tariffs and various reporting requirements regarding sustainability for both environment and work conditions.
“The commission wants to call it simplification, but in reality, it is deregulation and deterioration at the expense of human rights, environment, and climate,” writes Swedish MEP Alice Bah Kuhnke (Green Party) in a comment to TT.
(February 26)