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FX.co ★ EU industrial companies and Brussels to strike green deal

EU industrial companies and Brussels to strike green deal

EU industrial companies and Brussels to strike green deal

According to The Financial Times, the largest industrial companies in Europe have called on Brussels to allocate more funds for the development of green energy. Industrialists whose enterprises pollute the environment claim that they will not be able to switch to green technologies without additional financial support from the EU.

Leading EU industrial companies have appealed to Ursula von der Leyen, the head of the European Commission, with a request to amend the legislation. EU manufactures are sure it will help achieve considerable progress in their shift to green energy.

The letter was written and signed by the heads of 22 corporations. Many of them run companies that somehow pollute the environment, e.g. oil and gas giant Shell, automobile concerns Volvo and Daimler, equipment manufacturer Siemens, as well as the energy companies - Iberdrola and Orsted.

They indicated that without additional investments from the European Union, the further development of renewable energy sources is questionable. Clean energy is needed everywhere, including for industrial use, the letter emphasizes.

In the near future, Brussels will consider the amendments that it intends to make to the legislation. They are expected to help implement ambitious plans to achieve net-zero emissions by 2050. New EU legislation includes stricter regulations on automobile emissions and a tax on polluting imported goods.

However, EU manufacturers consider these measures insufficient. They believe that the European Union needs a broader approach to the problem. Businessmen are calling for the removal of barriers that prevent the integration of renewable sources into the energy systems used by companies. They also intend to achieve consistent investments in the energy sector from all EU countries.

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