EU to ease green tech subsidy rules by 2025
Major US subsidy flows prompt the EU to grant tax cuts and ease subsidy rules to promote sustainable investments in Europe.
BY PETER THOMSEN, WATCH MEDIA EU CORRESPONDENT, TRANSLATED BY CHRISTOFFER ØSTERGAARD & SIMON ØST VEJBÆK
BRUSSELS – Pressure from the US’ Inflation Reduction Act (IRA), entailing major incoming tax cuts and green technology subsidies requires more immediate action on the part of the EU to avoid capital flight and industrial relocation. Industries associated with climate change mitigation with various green tech profiles are now reconsidering business location – and the EU must act accordingly to remain an attractive market, shows a blueprint presented by EU Commission President Ursula von der Leyen Wednesday afternoon.
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