On Wednesday, the European Commission proposed allocating €100 billion ($104.97 billion) to support EU-made clean manufacturing, streamline public procurement processes, and simplify state aid rules to enhance Europe's struggling industries.
These measures are part of a new Clean Industrial Deal, aiming to aid energy-intensive industries facing challenges such as "high energy costs, unfair global competition, and complex regulations," while also promoting the clean-tech sector.
European Commission President Ursula von der Leyen stated, "The Clean Industrial Deal aims to eliminate obstacles hindering European companies, such as high energy prices and regulatory burdens, and make a compelling business case for Europe."
This initiative forms part of a broader package of proposals to reduce bureaucracy and encourage the Green transition, enabling European industries to better compete with counterparts in China and the United States.
The European Commission plans to unveil measures to simplify rules on supply chain transparency, striving to reduce reporting burdens by 25% by the first half of 2025, potentially saving European companies €40 billion ($42.06 billion).
Markus Beyrer, Director General of BusinessEurope, highlighted the frustration among CEOs over excessive paperwork, stating, "In many parts of the world, we can do our job. And in Europe, we use more and more of our time filling in useless pieces of paper."
Additionally, the Commission is expected to introduce an energy plan to lower costs for businesses and consumers and exempt most companies from emissions schemes if they produce only 1% of emissions, as per draft proposals.