Green technology companies in areas such as renewable hydrogen, batteries, among others, are likely to receive faster permits under European Union, Reuters news report said.
The European Commission is set to publish ideas on Wednesday to retain and boost Europe’s green industry against a backdrop of large subsidies by the United States and China.
A draft of the European Commission’s plan said it would produce a simpler regulatory framework for manufacturers of technologies deemed key to meeting the EU’s climate change goals, including faster permitting procedures.
Specific projects considered important to developing clean technology supply chains could also receive speedier permits.
Options include batteries, carbon capture and storage, renewable energy, renewable hydrogen, energy storage, and low-carbon construction technologies, although the EU will assess which projects to make eligible.
The EU would also set goals to expand these industries by 2030, to ensure they keep up with Europe’s growing needs for clean energy and products.
Brussels is looking to create more EU-wide standards for clean technologies – potentially by defining requirements for net-zero emissions products, which could then guide national governments’ public procurement of such goods.