BRUSSELS, Feb 26 (Reuters) – The European Commission proposed making 100 billion euros ($104.97 billion) available to support EU-made clean manufacturing, streamline public procurement processes, and simplify state aid rules to boost Europe’s struggling industries. These measures are part of a new Clean Industrial Deal aimed at supporting energy-intensive industries facing high costs, global competition, and complex regulations while promoting the clean-tech sector. European Commission President Ursula von der Leyen stated that the demand for clean products has slowed, and investments have shifted to other regions due to obstacles like high energy prices and excessive regulations. The Clean Industrial Deal seeks to remove these barriers and strengthen Europe’s industrial competitiveness. This initiative is part of a broader package to reduce bureaucracy and incentivize the Green transition, helping Europe compete with rivals in China and the United States. Separately, the Commission plans to ease corporate sustainability reporting and supply chain transparency rules, aiming to cut reporting burdens by 25% in early 2025, saving European companies an estimated 40 billion euros ($42.06 billion). Additionally, an energy plan to lower costs and exempt most companies from a carbon border tariff is expected, as draft proposals suggest. ($1 = 0.9527 euros) — news from Reuters
