E.U. unveils a green investment plan to compete with U.S. and China

By Jorge Valero

01 Feb 2023 · 3 min read

Editor's Note

The Green Deal Industrial Plan, a response to U.S.A's Inflation Reduction Act, is aimed at loosening state-aid rules to improve green investments. Bloomberg looks at the implications and concerns.

The European Union unveiled a road map for how it plans to keep its industries competitive as the bloc tries to catch up to the U.S. and China, which offer huge subsidies to domestic green technologies.

The European Commission wants to use its Green Deal Industrial Plan to boost national support for companies through investment aid and tax credits, while also tapping into common European funds to underwrite important projects involving sectors such as hydrogen and quantum computing, according to the proposal presented on Wednesday.

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