The European Parliament has approved the Net Zero Industry Act (NZIA) to bolster EU production in technologies needed for decarbonisation.
The legislation, adopted with 361 votes to 121, with 45 abstentions, will now have to be formally adopted by Council in order to become law.
The Act, already informally agreed upon with the Council, sets a target for Europe to produce 40% of its annual deployment needs in Net Zero technologies by 2030, based on National Energy and Climate Plans (NECPs) and to capture 15% of the global market value for these technologies.
Technologies to be supported include all renewable technologies, nuclear, industrial decarbonisation, grid, energy storage technologies, and biotech.
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