The European Commission has unveiled the Net-Zero Industry Act that intends to create a regulatory environment that allows us to scale up the clean energy transition quickly, with the aim that the European Union's overall strategic net-zero technologies manufacturing capacity approaches or reaches at least 40% of the European Union's deployment need by 2030. Most notably, it seeks to improve conditions for investment in net-zero technologies by enhancing information, reducing the administrative burden to set up projects and simplifying permit-granting processes. It sets an EU objective to reach an annual 50 Mt injection capacity in strategic CO2 storage sites in the EU by 2030. Finally, to support the uptake of renewable hydrogen within the EU as well as imports from international partners, the European Commission has also presented its ideas on the design and functions of the European Hydrogen Bank.
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