DAVOS, Switzerland - The European Union preparing a law to make life easier for its green industry.

According to Ursula von der Leyen's speech, the steps would be part of the EU's Green Deal industrial plan to make Europe the home of clean technology and industrial innovation on the road to net-zero carbon emissions by 2050. "To help make this happen, we will put forward a new Net-Zero Industry Act," she said. "The aim will be to focus investment on strategic projects along the entire supply chain. We will especially look at simplifying and fast-tracking permitting for new clean tech production sites," von der Leyen added.

 "To keep European industry attractive, there is a need to be competitive with the offers and incentives that are currently available outside the EU," von der Leyen said."This is why we will propose to temporarily adapt our state aid rules to speed-up and simplify. Easier calculations. Simpler procedures. Accelerated approvals," she said.

Source: Reuters