Green Deal Industrial Plan

Context:

The European Union unveils its ‘Green Deal Industrial Plan’.

About ‘Green Deal Industrial Plan’:

• According to the website of the European Commission, which oversees trade policy of the EU, the proposal involves building a simpler regulatory framework, providing faster access to funds, enhancing skills and improving the EU’s trade network.

Key Features:

• Simpler regulatory framework: The plan seeks to formulate a “Net-Zero Industry Act”, which will not only simplify rules but also speed up the issuance of permits for green projects, such as renewable energy generation arrays, carbon capture and renewable hydrogen production facilities.
• Enhancing skills: The plan aims to establish “Net-Zero Industry Academies” that will provide up-skilling and re-skilling programmes in strategic industries.
• Improving the trade network: The plan underlines the importance of open trade and seeks to further “develop the EU’s network of Free Trade Agreements and other forms of cooperation with partners to support the green transition.

News Source: The Indian Express