Faced with high energy costs and fierce and often ‘unfair’ global competition, EU industries need urgent support, the Commission said in a release.
The deal’s framework can drive competitiveness as it gives certainty and predictability to companies and investors that Europe remains committed to become a decarbonised economy by 2050.
“Europe is not only a continent of industrial innovation, but also a continent of industrial production. However, the demand for clean products has slowed down, and some investments have moved to other regions,” Commission President Ursula von der Leyen said.
“We know that too many obstacles still stand in the way of our European companies from high energy prices to excessive regulatory burden. The Clean Industrial Deal is to cut the ties that still hold our companies back and make a clear business case for Europe,” she said.
The Commission is also taking actions to make EU regulatory environment more efficient while reducing bureaucratic hurdles for businesses.
The measures are the results of the active engagement with industry leaders, social partners and civil society in the context of the Antwerp Declaration for a European Industrial Deal and the European Commission's Clean Transition Dialogues.
The Deal focuses mainly on two closely linked sectors: energy-intensive industries and clean technology.
Energy-intensive industries require urgent support to decarbonise and electrify. The sector faces high energy costs, unfair global competition and complex regulations, harming its competitiveness.
Clean technology is at the heart of future competitiveness and growth as well as crucial for industrial transformation. Circularity is also a central element of the Deal, as EU's limited resources need to be maximised and over-dependencies on third country suppliers for raw materials reduced.
The Deal presents measures strengthening the entire value chain. It serves as a framework to tailor action in specific sectors.
ALCHEMPro News Desk (DS)
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