Adoption of the Net Zero Industry Act
Published 24 June 2024
Category: Impact and ESG
The European Council has adopted the Net Zero Industry Act (the “Act”): a framework of measures for strengthening Europe’s net-zero technology products manufacturing ecosystem.
The Act shall channel investments to net-zero technologies with the purpose of supporting EU’s 2030 climate and energy targets as well as the aim for climate neutrality in 2050. At the same time as increasing the manufacturing capacity of net-zero technologies in Europe, the Act shall also support a more competitive European market for investments in green technologies. This includes more simple project permitting processes, facilitating market access, creating favorable frameworks for testing and developing technologies as well as focusing on improving the skills of European workers.
For more information on the background and process of the Act, please find our previous update on the Act and the Green Deal Industrial Plan.
Next step: The Act will be published in the Official Journal of the European Union and enter into force when it has been signed by the president of the European Council and the European Parliament respectively.
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