According to the Commission’s press release, the NZIA will set a benchmark for net-zero tech manufacturing to help stabilise investments, and make them easily trackable. In addition to benchmark measures, the act aims to provide additional improvements for investors by simplifying permission procedures and providing a wider access to markets amongst others. The NZIA covers a long list of tech that supports the EU’s zero pollution ambition, ranging from carbon-capture technologies and hydrogen to renewable energy and biotech solutions. In addition, if they invest in decarbonisation, NZIA also extends to industries that provide the components needed by net-zero industries. Strategic projects that align with net-zero ambitions, and relate to the above technologies will be supported by the act, and will receive a national level “priority status”. Additionally, the Commission will be able to engage and coordinate with member states and other stakeholders through the Net-Zero Europe platform.
The NZIA stems from the EU’s response to the United States’ Inflation Reduction Act (IRA), and its announcement in 2023 was not without critical response. It is closely connected to the Zero Pollution ambition, and to the Critical Raw Materials Act, which recently entered into force. Both of these EU initiatives connect to EuChemS, which is a member of the European Commission’s Zero Pollution Stakeholder Platform.
