EU’s era-defining Clean Industrial Deal for business
Its success will depend on how well it is adapted to political and economic constraints
THE European Union’s landmark new Clean Industrial Deal (CID) has received a mixed reaction so far from business trade groups. However, European Commission President Ursula von der Leyen is also looking to the history books with her new plan which she wants to become an era-defining initiative.
Just as re-elected US presidents in their second term of offices often intensify their focus on political legacy, this is also true of European Commission presidents. Von der Leyen’s European Green Deal helped define her first Commission from 2019 to 2024, and she now wants the CID to be not just the top business issue but the signature overall initiative of her second Commission from 2024 to 2029.
The new package is positioned as the industrial counterpart to the earlier green deal, and it aims to try to reconcile Europe’s ambitious decarbonisation goals with the realities of global competition. For business, the new package represents a shift towards incentives over restrictions, plus an evolving regulatory environment that will demand strategic flexibility.
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