The European Commission has announced a new plan to bolster green industry in Europe, called the "Green Deal Industrial Plan".
This is part of a push to out-compete the US and China in a bid to attract investors towards manufacturing green products.
The Green Deal Industrial Plan aims to reinforce the EU's marketability and push for greater sustanability for the planet.
European Commission President Ursula von der Leyen suggests this to be the decade that determines the future of the planet's sustainability.
The European Commission has announced a new plan to bolster green industry in Europe, following the United States' Inflation Reduction Act.
Known as the "Green Deal Industrial Plan", it is the EU's way of competing with the US and China to attract investments in manufacturing of green products.
The plan aims to "out-subsidise and out-incentivise" other countries during the push to become more sustainable over the next few years.
As Brussels awaits the long-term effects of Brexit, President Ursula von der Leyen feels that this is a vital time in the fight against climate change.
"We are living now in a decisive time, basically the decade that will decide whether we are going to be successful in fighting climate change or not," notes von der Leyen.
The "Green Deal Industrial Plan" encompasses a set of measures that aim to reinforce the EU's marketability in the manufacturing sector in a bid to push for greater sustainability.
The plan encompasses a range of ideas from using "green bonds" to compete with other nations while increasing spending on research and development related to sustainability.