EU proposes €100 billion to support clean manufacturing

A 100 billion euros plan to support clean manufacturing in the EU has been proposed by the European Commission. The initiative seeks to help European industries tackle issues like high energy costs and competition from low-cost imports.

The European Commission unveiled a €100 billion plan to boost EU-made clean manufacturing as part of its Clean Industrial Deal. The initiative aims to help European industries struggling with weak demand, cheap imports, and higher energy costs compared to the U.S. and China.

The deal includes collaboration with the European Investment Bank to ease costs for renewable energy contracts and support grid manufacturers. The Commission also proposed creating an EU Critical Raw Materials Centre to jointly purchase key metals and minerals for the energy transition.

While the proposal has been welcomed by some, it has faced opposition from trade unions and environmental groups who argue that the plans could lead to deregulation, weakening workers' rights and environmental protections. Activists staged protests outside the Commission's headquarters in Brussels.

The deal, which also includes easing state aid regulations and lowering energy costs for industries, is central to European Commission President Ursula von der Leyen’s strategy to revive Europe’s industrial sector. It will be presented to industry representatives in Antwerp this week.
 

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