Net Zero Industry Act (NZIA): First step towards a European Industrial Deal

In its last plenary session in Strasbourg, the European Parliament adopted the Net Zero Industry Act (NZIA), which, as part of the Green Deal Industrial Plan presented by Commission President Ursula von der Leyen in February 2023, was intended to be a response to the US Inflation Reduction Act (IRA). From the perspective of the steel industry in Germany, significant improvements have been achieved compared to the Commission's original proposal - but there is still a lot to be done on the way to a genuine European Industrial Deal.

Kerstin Maria Rippel, Managing Director of the German Steel Federation, comments:

"The fact that the NZIA was also extended to basic industries in the course of the political process is hugely important and, moreover, logical: after all, these industries are indispensable for achieving the political goals of the Green Deal in practice. At the same time, the Net Zero Industry Act is still a long way from being a real answer to the US Inflation Reduction Act. But this is exactly what we need if we as a European industry want to remain internationally competitive in the future as part of our transformation. That is why the coming European legislative period must be about working on a reliable and coherent transformation framework that consistently considers the role of the industry.  In other words: We need a European Industrial Deal that dovetails energy, climate, environmental and trade policy."

Source: WV Stahl, Photo: Fotolia