The European Union will be much more “assertive” in touting a “made in Europe” approach to ensure that green industries like hydrogen and wind stay on the continent.
(Bloomberg) — The European Union will be much more “assertive” in touting a “made in Europe” approach to ensure that green industries like hydrogen and wind stay on the continent.
The EU is not afraid to be more forceful in protecting its industries against global competition, Maros Sefcovic, chief of the bloc’s green deal said at a conference in Brussels. The region is under pressure to ensure that its transition isn’t marked by a massive outflow of industry to the US and China.
“We must not be so shy to use trade defense instruments because we are in that phase where we simply need to project our clear attitude to industry,” he said. “We are the pioneers and we want to stay that way.”
Europe is trying to turbo-charge a move to renewable energy but policy makers want to prevent those efforts from boosting the sales of foreign manufacturers in countries such as China, making the 27-nation bloc reliable on imports. The bloc has already launched a probe into Chinese electric vehicles, and its Net Zero industry Act is the bloc’s effort to rival Washington’s Inflation Reduction Act.
The European Commission,the bloc’s executive branch, is set to launch a wind power package later this month, which will accelerate permitting for projects, help ensure stable supply chains and improve existing rules on auctioning. Fresh sources of money for key technologies could also come from the likes of the European Investment Bank, according to Sefcovic.
Sefcovic said the EU would evolve its approach to public procurement, by departing from price metrics only, while putting more focus on areas like a company’s carbon footprint and where key raw materials are sourced. Using green power or hydrogen to manufacture equipment would also be considered, he added.
“I want to send this very clear political message,” he said, addressing industry in the conference hall. “You’re a priority for us. We will fight for European industry.”
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