Eurochambres position on the Green Deal Industrial Plan: putting Europe’s net-zero industry in the lead
Eurochambres acknowledges the urgent need to adapt the EU Industry Strategy. The communication by the European Commission on the Green Deal Industry Plan was timely and necessary. Strengthening our own EU industrial location, keeping a fair level playing field for EU member states, and avoiding a zero-sum game with other economic areas in the world is important. Eurochambres calls on the European Commission to ensure fast deployment of the existing EU financial instruments and provide incentives for private investments on green technologies and renewable energies.
Despite the focus of the New Industrial Strategy for Europe in 2021, on the twin transitions, it has not yet began to reap the fruits of its efforts to turn both into an industrial opportunity for Europe. Eurochambres welcomes the communication by the European Commission on the Green Deal Industry Plan.
Eurochambres acknowledges the urgent need to adapt industrial policies and mobilize financing in a predictable, adequate, and timely manner to address this crisis, as well as to ensure that other key competitiveness levers such as the single market and the EU's trade agenda are optimised.
Europe is facing a new wave of "deindustrialization", this time heavily influenced by rising energy prices and imported inflation, further exposing existing challenges. The EU must ensure that it is an attractive manufacturing location.
The state aid debate and subsidy race is a double-edged sword, and our top priority must be to preserve the internal market’s level playing field and integrity.
The United States’ recent Inflation Reduction Act (IRA), which includes a $369 billion package in federal subsidies for green technologies and renewable energies, will undoubtedly impact EU businesses. In this respect, we call for swift transatlantic solutions to remedy the detrimental and discriminatory elements of the IRA on European businesses.
Eurochambres welcomes the Commission’s attempt to coordinate the various existing EU financial instruments for a better outcome. We call on the European Commission to ensure fast deployment of the current allocation of EU financing and provide incentives for private investments. The EU Green Industry Plan, REPowerEU, and the revised Temporary Crisis and Transition Framework can help provide a strong anchor to keep investment in the EU.
Eurochambres has always been at the forefront of actions to improve the better regulation agenda. Therefore, the competitiveness check should be a key part of balanced EU decision-making and should be applied in the context of any EU policy and law-making process.
