Position paper - US industry views: the Net-Zero Industry Act

The Net-Zero Industry Act (NZIA) is a clear signal that the EU must take swift, effective action to maintain the competitiveness of its industry while decarbonising to meet its net-zero ambitions. The scope of the NZIA must be expanded to include sectors across the value chain and allow for competitive decarbonisation. The bedrock principle of technological neutrality should be built into each provision of the NZIA, including those on faster permitting. The legislation must further clarify carbon storage obligations for fossil fuel companies as well as funding sources for net-zero projects. To unlock the competitiveness of the EU’slower carbon energies and technologies, policymakers must prioritise streamlined access to financing. Finally, the legislation must emphasise the key roles of skills development and transatlantic cooperation in achieving the aim of the NZIA: creating the right conditions in Europe to allow industry to grow the economy and reach the EU’s net-zero goals.