The European Union will prepare a law to make life easier for its green industry and back it up with state aid and a European Sovereignty Fund to keep firms from moving to the United States, von der Leyen continues.
She says the plan is part of the EU’s Green Deal industrial plan, which aims to make Europe the home of clean technology and industrial innovation in the push for net-zero.
Von der Leyen tells delegates here in Davos: “To help make this happen, we will put forward a new Net-Zero Industry Act.
“The aim will be to focus investment on strategic projects along the entire supply chain. We will especially look at how to simplify and fast-track permitting for new clean tech production sites,” she said.
Von der Leyen explains: “To keep European industry attractive, there is a need to be competitive with the offers and incentives that are currently available outside the EU.”