The European Commission will propose legislation aimed at making the industry “net-zero” greenhouse gas emissions and therefore carbon neutral by promoting green technologies, Commission President Ursula von der Leyen announced on Tuesday in Davos.

“This new regulation (…) will set clear targets for clean technologies until 2030. The aim will be to focus investments on strategic projects along supply chains” and “simplify and speed up authorization procedures for new production sites” of green technologies, she said in her speech at the World Economic Forum (WEF), reports Agerpres.

The EU has set itself the goal of reducing greenhouse gas emissions by 55% by 2030 compared to 1990 and achieving carbon neutrality by 2050 as part of its ambitious Green Deal.

To achieve this, “we need to create a regulatory environment that allows rapid deployment and creates favorable conditions for important sectors (…) wind and solar energy, heat pumps, pure hydrogen or even storage,” explained Ursula von der Leyen.

“At the same time, we will think about how to speed up procedures for European “projects of common interest” related to clean technologies to facilitate their financing, as well as access for small businesses,” she added.

According to the head of the European executive, this new legislation, which is to be the subject of negotiations between member states and the European Parliament, will “follow the model” of the text already proposed by the Commission to stimulate the production of semiconductors.

In February 2022, Brussels unveiled a €43 billion plan for the semiconductor industry to reduce Europe’s dependence on Asia and capture 20% of the global market by 2030.

The text, in particular, provided for the relaxation of the regulatory framework regarding state aid for financing research into the most innovative technologies and pilot lines of preparation for their industrialization.