The European Parliament has approved the Net-Zero Industry Act (NZIA), a law aimed at boosting EU manufacturing of key decarbonisation technologies. The NZIA, proposed by the European Commission in March 2023, is part of the Green Deal Industrial Plan strategy. It supports 19 specific technologies, including solar photovoltaic and thermal technologies, onshore and offshore renewable energy, and carbon capture and storage (CCS). The law also sets targets for the EU to produce at least 40% of its annual deployment needs for these technologies and to capture 15% of the global market value.

Source: ESGToday