Brussels Proposes 100 Billion Euro for New 'Decarbonization Bank'

brussels, belgium - Brussels presents Clean Industrial Deal to support European industry in crisis, emphasizing decarbonization strategies and reduced government intervention.

Brussels Proposes 100 Billion Euro for New 'Decarbonization Bank'

Brussels unveils Clean Industrial Deal to aid struggling European industry, aiming for decarbonization and reduced government intervention.

The European Commission plans industrial policies to ensure affordable energy, joint procurement of critical resources, and green state aid. Decarbonization remains a key strategy for growth, according to EU Commissioner Stéphane Séjourné.

Efforts include greener public tenders and a new 'decarbonization bank' distributing 100 billion euros. The strategy responds to concerns raised by former ECB chief Mario Draghi regarding the future of European industry.

Brussels aims to revise regulations, focusing CO2 import taxes on major importers and revising sustainable reporting obligations. The European Commission seeks to bridge the gap between policy and industry practice.

Industry responses are positive, welcoming the Clean Industrial Deal's support while calling for additional national measures. Companies like Tata Steel in IJmuiden appreciate the focus on green steel demand and seek flexibility in agreements with governments.

European business leaders see Brussels' new direction positively, urging a shift in EU regulation culture to attract investments and halt industrial decline.