EU leaders back green subsidy drive but leave details to Brussels

(EurActiv, 10 Feb 2023) EU leaders backed the European Commission’s green industrial plan in response to the US Inflation Reduction Act at a summit on Thursday (9 February) but left the details to the EU executive, which is expected to table new proposals next month.

“We want to address the global competitiveness of the European Union in the short term and also in the medium term,” said European Council President Charles Michel.

“Today we give additional impetus based on the pillars [of the green industrial plan],” he added, calling on the Commission to further its work on unlocking national subsidies and existing EU funds.

The conclusions from the meeting mention the initiatives laid out by the European Commission in its new industrial policy and hand the baton back to Brussels to hash out the details.

This includes calling on the EU executive to work on simplifying state aid, unlocking existing EU funding and simplifying the regulatory environment for industries crucial to the EU’s decarbonisation goals.

“In the face of the new geopolitical reality, the European Union will act decisively to ensure its long-term competitiveness, prosperity and role on the global stage,” read the summit conclusions.

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EurActiv, 10 Feb 2023: EU leaders back green subsidy drive but leave details to Brussels