EU Clean Deal to Boost Industry in Race Against US and China

EU to support industries that face persistently high energy costs, investment barriers

- Bloomberg

The European Union (EU) unveiled a plan that preserves its ambitious climate goals while trying to improve industrial competitiveness in the face of increasing rivalry from the US and China.

The European Commission, which has repeatedly vowed to stay the course on its goal to zero-out emissions by the middle of the century, is offering support to industries that face persistently high energy costs and investment barriers. It also outlined a set of tools to reduce power bills, including measures to accelerate the roll-out of renewables.