EU concludes negotiations on green industry law

European Union policymakers concluded negotiations on Tuesday on new rules to promote local production of equipment for solar and wind power, fuel cells and other clean technologies and ensure its industry can compete with Chinese and U.S. rivals.

The bloc aims to set a 2030 target of producing 40% of the products it needs to reduce greenhouse gas emissions, such as solar panels, heat pumps, electricity grids and carbon capture systems.

An EU official said that European Parliament lawmakers and Belgium, which holds the six-month rotating EU presidency, concluded negotiations on Tuesday afternoon on the Net-Zero Industry Act.