EU Green Deal Plan
The European Union (EU) has introduced the Net Zero Industry Act (NZIA) and the Critical Raw Materials Act (CRMA) under its Green Deal Industrial Plan. These laws aim to promote green manufacturing and reduce dependency on imports. The NZIA targets producing 40% of the EU’s green technology needs domestically by 2030, supporting renewable energy, energy-efficient buildings, and electric vehicles. The CRMA focuses on ensuring a stable supply of critical raw materials by boosting extraction, processing, and recycling within the EU. While fostering competitiveness, the acts might affect emerging economies reliant on raw material exports. Criticism exists regarding their sufficiency in combating climate change.
If you like this post, please share your feedback in the comments section below so that we will upload more posts like this.
