EU unveils clean industrial deal to help polluting sectors transition

The European Commission has reaffirmed its commitment to slashing greenhouse gas emissions 90% by 2040, while announcing a new “clean industrial deal” aimed at supporting Europe’s most polluting industries like steel and cement to go green.

Published on Wednesday, the plan outlines 40 measures to accelerate the green transition, including faster permitting for renewable energy projects, changing public procurement rules to favor European clean tech companies, and creating a new €100 billion industrial decarbonization bank to leverage private investment.

“The clean industrial deal is Europe’s business plan to tackle the climate crisis,” stated Teresa Ribera, the Commission’s Vice President overseeing the green transition. She rejected suggestions the EU was backtracking on environmental goals in the face of energy price pressures.

Regulatory Reforms Spark Criticism

Accompanying the deal, the Commission proposed freezing corporate sustainability reporting rules for two years while consulting on exemptions for small and medium enterprises (SMEs). Environmental campaign groups blasted the move as creating legal uncertainty and undermining due diligence checks on supply chains.

The proposals also aim to simplify the EU’s carbon border tax by exempting the smallest importers, covering 90% of companies but still applying to 99% of emissions. Some see this as a necessary adjustment, while green groups argue more is needed to rapidly phase out fossil fuel reliance.

Soruce: The Guardian