{"id":2244,"date":"2023-02-06T00:00:00","date_gmt":"2023-02-06T00:00:00","guid":{"rendered":"https:\/\/www.nextias.com\/current_affairs\/uncategorized\/06-02-2023\/green-deal-industrial-plan\/"},"modified":"2023-02-06T00:00:00","modified_gmt":"2023-02-06T00:00:00","slug":"green-deal-industrial-plan","status":"publish","type":"post","link":"https:\/\/www.nextias.com\/ca\/current-affairs\/06-02-2023\/green-deal-industrial-plan","title":{"rendered":"Green Deal Industrial Plan"},"content":{"rendered":"<p style=\"text-align:justify\"><span style=\"font-size:13pt\"><span style=\"font-family:\"Book Antiqua\",serif\"><strong>In News<\/strong><\/span><\/span><\/p>\n<ul>\n<li style=\"list-style-type:disc\"><span style=\"font-size:13pt\"><strong>European Commission<\/strong><\/span><span style=\"font-size:13pt\"> recently presented a <\/span><span style=\"font-size:13pt\"><strong>Green Deal Industrial Plan<\/strong><\/span><span style=\"font-size:13pt\"> to enhance the competitiveness of Europe&#8217;s industry<\/span><\/li>\n<\/ul>\n<p style=\"text-align:justify\"><span style=\"font-size:13pt\"><span style=\"font-family:\"Book Antiqua\",serif\"><strong>About<\/strong><\/span><\/span><\/p>\n<ul>\n<li style=\"list-style-type:disc\"><span style=\"font-size:13pt\">The\u00a0 Green Deal Industrial Plan involves building a <\/span><span style=\"font-size:13pt\"><strong>simpler regulatory framework, providing faster access to funds, enhancing skills and improving the EU\u2019s trade network<\/strong><\/span><span style=\"font-size:13pt\">.<\/span><\/li>\n<\/ul>\n<ul>\n<li style=\"list-style-type:disc\"><span style=\"font-size:13pt\">The proposal aims to bring changes in the following areas:<\/span><\/li>\n<li style=\"list-style-type:disc\"><span style=\"font-size:13pt\"><strong>Regulatory Framework<\/strong><\/span>\n<ul>\n<li style=\"list-style-type:circle\"><span style=\"font-size:13pt\">The plan seeks to formulate a <\/span><span style=\"font-size:13pt\"><strong>\u201cNet-Zero Industry Act\u201d,<\/strong><\/span><span style=\"font-size:13pt\"> which will not only simplify rules but also speed up the issuance of permits for green projects<\/span><\/li>\n<li style=\"list-style-type:circle\"><span style=\"font-size:13pt\">It also includes a \u201c<\/span><span style=\"font-size:13pt\"><strong>Critical Raw Materials Ac<\/strong><\/span><span style=\"font-size:13pt\">t\u201d, which will provide access to materials like rare earths that are crucial for developing net-zero technology.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type:disc\"><span style=\"font-size:13pt\"><strong>Access to funds<\/strong><\/span>\n<ul>\n<li style=\"list-style-type:circle\"><span style=\"font-size:13pt\">Loosening of state aid rules to help EU\u2019s 27 governments with investment\u00a0 in clean energy projects.<\/span><\/li>\n<li style=\"list-style-type:circle\"><span style=\"font-size:13pt\">The plan enables countries with minor economies to take money from existing EU funds.<\/span><\/li>\n<li style=\"list-style-type:circle\"><span style=\"font-size:13pt\">Aims to set up a<\/span><span style=\"font-size:13pt\"><strong> \u201cEuropean Sovereignty Fund\u201d<\/strong><\/span><span style=\"font-size:13pt\"> in the future to give a structural answer to the investment needs.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type:disc\"><span style=\"font-size:13pt\"><strong>Enhancing skills<\/strong><\/span>\n<ul>\n<li style=\"list-style-type:circle\"><span style=\"font-size:13pt\">The plan aims to establish \u201c<\/span><span style=\"font-size:13pt\"><strong>Net-Zero Industry Academies<\/strong><\/span><span style=\"font-size:13pt\">\u201d that will provide up-skilling and re-skilling programmes in strategic industries.\u00a0<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type:disc\"><span style=\"font-size:13pt\"><strong>\u00a0Trade network<\/strong><\/span>\n<ul>\n<li style=\"list-style-type:circle\"><span style=\"font-size:13pt\">seeks to further develop the EU\u2019s network of Free Trade Agreements to support the green transition.<\/span><\/li>\n<\/ul>\n<\/li>\n<li style=\"list-style-type:disc\"><span style=\"font-size:13pt\"><strong>Implications<\/strong><\/span>\n<ul>\n<li style=\"list-style-type:circle\"><span style=\"font-size:13pt\">Will increase europe\u2019s competitiveness in green industries<\/span><\/li>\n<li style=\"list-style-type:circle\"><span style=\"font-size:13pt\">When seen together with<\/span><span style=\"font-size:13pt\"><strong> USA\u2019s Inflation Reduction Act (IRA)<\/strong><\/span><span style=\"font-size:13pt\"> which will direct $390 billion towards clean energy projects the plan might trigger a global subsidy war.<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p style=\"text-align:justify\"><span style=\"font-size:13pt\"><span style=\"font-family:\"Book Antiqua\",serif\"><strong>Source: IE<\/strong><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In News European Commission recently presented a Green Deal Industrial Plan to enhance the competitiveness of Europe&#8217;s industry About The\u00a0 Green Deal Industrial Plan involves building a simpler regulatory framework, providing faster access to funds, enhancing skills and improving the EU\u2019s trade network. The proposal aims to bring changes in the following areas: Regulatory Framework [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":2245,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21],"tags":[30,34],"class_list":["post-2244","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs","tag-gs-2","tag-india-foreign-relations"],"acf":[],"jetpack_featured_media_url":"https:\/\/wp-images.nextias.com\/cdn-cgi\/image\/format=auto\/ca\/uploads\/2023\/07\/51588632962218D1C2BEA-B42D-44CA-AC90-12BFBC61D8CC.png","_links":{"self":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/2244","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/comments?post=2244"}],"version-history":[{"count":0,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/posts\/2244\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media\/2245"}],"wp:attachment":[{"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/media?parent=2244"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/categories?post=2244"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.nextias.com\/ca\/wp-json\/wp\/v2\/tags?post=2244"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}