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European Parliament Adopts the Net-Zero Industry Act
26th April 2024
On 25 April, the European Parliament formally approved during the plenary session the provisional agreement reached with the EU Council in February 2024 on the Net-Zero Industry ACT (NZIA), a key legislation expected to strengthen the competitiveness and resilience of the EU’s net-zero industry and contribute to the Union’s ambitious goal to achieve climate neutrality by mid-century.
The NZIA will support the scale-up of a wide range of net-zero technologies considered instrumental to support Europe’s decarbonisation efforts, including Carbon Capture and Storage (CCS).
In particular, the act recognises CO2 capture, transport and storage projects as net-zero strategic projects, entitled to benefit multiple advantages, including streamlined and efficient permitting procedures and priority status at the national level.
The regulation provisionally agreed by the co-legislators following the interinstitutional negotiations was officially endorsed by the Members of the European Parliament with 361 votes, 121 against and 45 abstentions.
The NZIA now needs to be formally approved also by the Council of the EU before being published in the Official Journal of the EU and entering into force.
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