Europe’s Net Zero Industry Act (NZIA) – expected to come into force at the end of June – has set a target of 50 million tonnes of annual injection capacity in EU geological CO2 storage sites by 2030.
NZIA sets a benchmark for the manufacturing capacity of strategic Net Zero technologies to meet at least 40% of the EU’s annual deployment needs by the same year.
Ursula von der Leyen, President of the European Commission, said the NZIA provides a regulatory environment that allows it to scale up clean technologies manufacturing quickly. “Demand is growing in Europe and globally, and we are now equipped to meet more of this demand with European supply,” she said.
Margrethe Vestager, Executive Vice-President for a Europe Fit for the Digital Age, said with the final adoption of the NZIA, it will simplify and accelerate permitting procedures which will enhance competitiveness.
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