Climate Politics
Von der Leyen Says EU Must Boost Clean Tech Funds to Counter US
- Commission chief proposes temporary changes to state aid rules
- Bloc must also respond to unfair Chinese practices, she says
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The head of the European Union’s executive arm said the bloc should pass a new law to fast-track investments in clean tech and boost funding for the energy transition in response to a US climate law it fears unfairly subsidizes American companies.
“To keep European industry attractive, there is a need to be competitive with offers and incentives that are currently available outside the European Union,” Ursula von der Leyen, of the European Commission, said in a speech at the World Economic Forum in Davos on Tuesday. “To avoid fragmenting of the single market and to support the clean tech transition across the whole union, we must also step up EU funding.”