The Council and the European Parliament have provisionally agreed on the Net-Zero Industry Act (NZIA), a regulatory framework aimed at bolstering Europe’s net-zero technology products manufacturing ecosystem.

The agreement focuses on streamlining permit-granting procedures, supporting strategic projects, and enhancing workforce skills to accelerate the deployment of net-zero technologies crucial for meeting the EU’s climate goals.

The NZIA introduces innovative measures such as fast-track permit procedures, the creation of net-zero industrial valleys, and transparent rules for public procurement and auctioning.

It also sets benchmarks for production and targets for CO2 capture and storage.

The next steps involve formal endorsement and adoption by both institutions, marking a crucial milestone in propelling Europe towards a sustainable future.