On January 20, 2023, the European Union (EU) held a conference to have a talk on the go-green industry. Presided by Ursula von der Leyen, the president of the European Commission, this meeting was to address the grievances of the green industries in Europe. Ursula von der Leyen asserted that the EU is going to prepare a law to financially the green industries in the region. In her speech, she said that these funds will be either directly from the government or through European Sovereignty funds.

The president of the European Commission said that the green industries are moving to the United States because of the lack of resources in Europe – especially in Germany and the U.K. Thus, to cope with this, the EU will pass a law to financially back green industries in the European region. Of course, once approved, the aid will be funded by the respective governments in the region. Plus, the European Sovereignty funds will also go to the green industries in the region.

ARY News / To avoid green industries moving to the U.S. from Europe, the EU will pass a law to financially back green industries in the region.

During the speech, Ursula von der Leyen made it clear that initiative is a part of the “clean technology” and go-green strategies of European countries. The president of the European Commission foresaw that Europe will be home to clean technology and a revolutionary go-green market by 2050. Thus, this law, once passed, will be a step forward in the progress of Europe’s go-green strategies.

The 2050 Vision of “Clean Technology” in Europe

Furthermore, Ursula von der Leyen highlighted that there are not enough resources available for the green industry in Europe. And Germany and the United Kingdom are on the top list, the president of the European Commission asserted.

BBC / Ursula von der Leyen asserts that this move is a step taken in making Europe an industrial hub and “clean technology” by 2025.

However, it is essential to note here that European countries have been proactive in introducing new initiatives as part of their ‘clean technology” motif. Countries like the United Kingdom and Germany have been putting ruthless efforts into making Europe a hub of clean technology.

And this latest proposal, of backing green industries in the region with government funds, is a step taken to achieve the long-term goals of go-green industries.

Joy Time / Once approved, the law will be called the “Net Zero Industry Act,” highlighted the president of the European Commission.

Furthermore, Ursula von der Leyen asserted that in order to achieve this, the EU will encourage investors in putting their money into green industries. Plus, the European Union will also try to make business operations and investment in green industries easy for industry leaders.

On top of that, the respective governments will put “real efforts” into making the long-term vision of the European go-green vision of 2050 achievable. She also highlighted that the European Sovereignty funds will also go to green industries to speed up the initiative of the European countries.

Ursula von der Leyen concluded that once all these are combined, Europe will be a hub of “clean technological advancement” by 2050.