The rebranding of industries according to the new European Commission

European Commission President Ursula von der Leyen introduced the new “Clean Industrial Deal”. Early in her second mandate, the deal aims at directing investment towards infrastructure and industry, particularly in energy intensive sectors, in order to support the EU’s industrial decarbonization, growth and competitiveness goals.

What’s the deal with the new Industrial Deal

During the Strasbourg plenary in July 18th, the soon-to-be re-elected von der Leyen introduced a new support on industries, explicitly linking its decarbonisation drive to Europe’s economic competitiveness. She promised a new Clean Industrial Deal within 100 days of taking office.

At its core, the re-elected president explained, there is “the investment in infrastructure and industry, particularly in energy-intensive sectors. This will help create leading markets in everything from green steel to clean technology, and will accelerate planning, tendering and permitting”.

According to Von der Leyen, “we need to be faster and simpler because Europe is decarbonising and industrialising at the same time. Our companies need predictability for investment and innovation”.

The speech in Strasbourg balanced competitiveness, to be supported with a new dedicated fund, and environmental sustainability, maintaining the 2030 and 2050 targets. More specifically: “We will consolidate the target of reducing emissions by 90 per cent by 2040”. The new Clean Industrial Deal, therefore, “will help lower energy bills” that undermine “our competitiveness”.

Moreover, “high energy bills are a major factor in energy poverty. I have not forgotten how Putin blackmailed us by cutting off Russian fossil fuels, but we have resisted together and invested heavily in cheap renewable energy. Therefore, together we will ensure that the era of dependence on Russian fossil fuels ends once and for all”.

The course is built on the achievements of the past five years and from this point of view it is claimed that “in the first half of this year, 50 per cent of our electricity production will come from renewables. Investment in clean technologies in Europe has more than tripled this term. We attract more investment in clean hydrogen than the US and China combined. Finally, in recent years, we have concluded thirty-five new agreements with global partners on sustainable technologies, hydrogen and critical raw materials. This is the European Green Deal in action”.