The European Commission has published a legislative proposal to increase demand for low-carbon technologies and products manufactured in Europe. The Industrial Accelerator Act (IAA) aims to stimulate production, support business growth, and create jobs in the EU, while supporting industry in the transition to cleaner technologies.
In line with the recommendations in the Draghi report, the IAA is introducing targeted and proportionate “Made in the EU” and/or low-carbon requirements in public procurement and public support schemes. These will apply to selected strategic sectors related to the production of:
- steel
- cement
- aluminium
- cars
- net-zero technologies
The proposal introduces “EU-made” requirements for projects involving public funds, provides for the screening of foreign investments above €100 million, and speeds up the issuance of permits through a simplified digital system for issuing project permits, especially in certain “acceleration areas.” The document will have a significant impact on public procurement, renewable energy tenders, and other areas involving public participation.
The proposal also establishes a framework within which Member States will be able to designate areas for accelerating industrial production based on a set of criteria. These areas are intended to facilitate the geographical clustering of industrial activities and promote favorable conditions for the industrial sectors established therein. The areas for accelerating industrial production will be developed in synergy with other Union initiatives.
For more information: IAA
