The European Commission (EC) announced on Tuesday, December 3, that it plans to invest €4.6 billion in decarbonisation technologies and clean hydrogen projects. The investment will be financed through funds from the EU's carbon trading system (EU ETS), the EC said.
Publish dateWednesday 4 December 2024 - 13:27
According to Amac News: The investment commitments include two new calls for proposals totalling €3.2 billion for carbon-neutralisation technologies, according to the European Commission's announcement.
Of this amount, €1 billion is specifically earmarked for the production of battery cells for electric vehicles, while another €1.2 billion is earmarked to accelerate the production of renewable hydrogen through the European Hydrogen Bank.
All of these initiatives are financed through the EU's Innovation Fund. The fund is one of the largest financing programs for the implementation of carbon-neutral technologies in the world and is considered one of the key instruments of the European Green Deal Industrial Agenda.
The goal of this program is to increase the competitiveness of European carbon-neutral industries and support the EU’s transition to carbon neutrality.
According to experts, investments in these areas can lead to economic growth and the creation of new jobs in innovative and green sectors. Also, increasing the production of renewable energy can help reduce energy costs and dependence on fossil fuels, which will have positive effects on the macroeconomic environment.
Given the increased revenues from the carbon trading system, these investments are expected to lead to fundamental changes in European industry and economy.
Of this amount, €1 billion is specifically earmarked for the production of battery cells for electric vehicles, while another €1.2 billion is earmarked to accelerate the production of renewable hydrogen through the European Hydrogen Bank.
All of these initiatives are financed through the EU's Innovation Fund. The fund is one of the largest financing programs for the implementation of carbon-neutral technologies in the world and is considered one of the key instruments of the European Green Deal Industrial Agenda.
The goal of this program is to increase the competitiveness of European carbon-neutral industries and support the EU’s transition to carbon neutrality.
According to experts, investments in these areas can lead to economic growth and the creation of new jobs in innovative and green sectors. Also, increasing the production of renewable energy can help reduce energy costs and dependence on fossil fuels, which will have positive effects on the macroeconomic environment.
Given the increased revenues from the carbon trading system, these investments are expected to lead to fundamental changes in European industry and economy.
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Source : news agency wam
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