So the net-zero regulation has passed: now what?
The European Union has taken a major step in driving the transition to clean technologies with the approval of the ground-breaking Net-Zero Industry Act (NZIA). After over a year of negotiations between the European Commission, Parliament and Council, the Act was given final approval on 27 May 2024.
Purpose of the act
The NZIA was initially proposed by the European Commission in March 2023 as a key part of the Green Deal Industrial Plan platform, working to make the EU’s eventual transition to climate neutrality a reality, this while making the EU’s net-zero industries more competitive.
This is quite the pressing issue: Europe currently imports the technologies necessary to reach its climate and energy objectives – 90% percent of all its solar panels, for instance, are foreign born. This is while environmental services are becoming one of the most rapidly-expanding markets globally, one that de