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Feb 1 • 11 tweets • 3 min read
.@vonderleyen unveils the EU Commission's proposal for a "Green Deal Industrial Plan" to respond to the Inflation Reduction Act : ec.europa.eu/commission/pre… short thread
1. It's all about climate: the new deal complements EU Green Deal and RePowerEU (EU's plan to reduce dependence on Russian fossil fuels). But clearly, it's also about supporting EU green tech industry in face of US' inflation reduction act & Chinese support for green tech firms.
2. Simplify rules & secure supply chains: EU wants to 'simplify' state aid procedures. New net-zero act & critical raw materials act to ensure EU industry have components & materials they need.
2bis: Many EU countries do *not* want to relax state aid rules as they fear this will advantage rich member states (like Germany and France who cd dish out even more subsidies) and disadvantage poorer ones. Will upset the level playing-field inside single market.
3. Speed up state aid & extend state aid exemptions (in place since Covid & Ukraine war): more flexibility and speed to support green tech. Not clear whether EU Commission wants to further relax state aid rules - but it *is* proposing to change way state aid is being used!!
4. EU money: In short-term, EU Commission proposing to use unspent EU funds for "financing clean tech innovation, *manufacturing* and deployment. 🚨This is big🚨: Until now, EU state aid cd only really be used for R&D - not manufacturing needs (IRA subsidies can be used for both)
4bis EU money: in the long term, EU Commission proposing to set a new "European Sovereignty Fund". Will be discussed in context of EU budget talks this yr (NB: there are annual talks to tweak the way EU budget is used).
4. Invest in skills: which is what @vonderleyen promised in Davos. Create 'Net-Zero Academies' (giggle) and spur public-private financing for green tech.
5. Trade: EU Commission will continue to "develop network of free trade agreements" (that means strengthening supply chains with trusted partners, even when there is not existing FTA). Continue to vet foreign subsidies in green tech.
6. EU answer could change: EU Commission proposal will be discussed at the EU27 leaders' summit next week (9 and 10 Feb) and by EU27 ministers in the run up. Either way, this is a *big* leap for EU industrial policy. Question is: are EU27 ready to find a compromise? END.
#InflationReductionAct #IRA #EUgreenindustrialdeal

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More from @GeorginaEWright

Georgina Wright Profile picture
Dec 15, 2022
My latest piece for @i_montaigne explores the *real* reasons why the EU is worried about the #InflationReductionAct. Spoiler: Biden’s IRA exemptions won’t be sufficient to protect EU industry: institutmontaigne.org/en/analysis/re… THREAD (1/8)
1. EU doesn’t hate the IRA: IRA is 1st major attempt by a US administration to combat climate change. A good thing for US and the planet. Some EU companies have even benefitted from IRA (German heavy industry recorded 40% increase in Sept. 2022, compared to Sept. 2021).
2. IRA subsidies & tax breaks are the problem: Why?
1⃣EU green tech tempted to relocate production to US to benefit from generous subsidies & low energy prices;
2⃣confirms US industrial policy will continue to favour industry "Made in America".
Read 12 tweets
Georgina Wright Profile picture
Nov 28, 2022
Hi 👋🏼! If I'm a bit quiet on here lately it's cos I'm spending too much time reading up on US' #InflationReductionAct (and the likes) to understand impact EU industry (I know, fun). Anyway, can someone please help me understand what an adviser to President Macron said.. 1/2
... when he/she said: "Macron is hoping to secure exemptions for certain EU industries" from IRA during his state visit to Washington tomorrow "like those Canada and Mexico benefit from". Help please? Thx 2/2
(Thank you to the kind souls who have already come to my rescue in PM).
Read 4 tweets
Georgina Wright Profile picture
Nov 28, 2022
Bon, je sais que j'habite en 🇫🇷 depuis 2 ans mais je ne comprends pas le sens de cette phrase d'un conseiller du Président: "nous pouvons imaginer que l'administration américaine consente des exemptions pour 1 certain nombre d'industries 🇪🇺" de l'#InflationReductionAct. Help plz?
Cfr ici : boursorama.com/bourse/actuali…
Et si je suis plutôt calme sur ce réseau depuis un petit moment, c'est parce que je passe trop de temps à étudier des lois américaines et à comprendre les répercussions sur l'industrie européenne 🤪
Read 4 tweets
Georgina Wright Profile picture
Oct 7, 2022
France and the UK want to work more closely together and host a 🇫🇷🇬🇧 summit next year. My take on why @trussliz & @EmmanuelMacron are right to do this now (+ thread): institutmontaigne.org/en/analysis/wh…
1. First, it wd be strategic: France and UK are the 2 largest military and nuclear powers in Europe, with diplomatic operations to match. People-to-people ties are considerable. They share many of the same instincts. More unites them than divides them - on paper at least.
2. Second, it wd be political: Macron gains an ally on European defence and nuclear energy. Truss, who is proud to have been loyal to Boris Johnson until the bitter end, can complete what he never managed to achieve: a new chapter in the Franco-British relationship.
Read 11 tweets
Georgina Wright Profile picture
May 10, 2022
Reading through the speech, that does *not* appear to be what Macron is saying though? Instead: 1/6
- Russia: must do everything to support Ukraine & make sure Russia doesn’t win. Must fight war crimes & cut Russia’s access to funds. 2/6
- Russia(bis): Only Ukraine can decide if and when it is ready to negotiate peace (and only Ukraine can decide what terms are acceptable). When peace comes to the continent, there must be no humiliation. 3/6
Read 7 tweets
Georgina Wright Profile picture
May 9, 2022
Macron says EU enlargement process can take decades. Is he right? Yes. But isn't he actually trying to frustrate enlargement process? No, he isn't. This is why. Short thread.
1. No way to #fasttrack EU membership: you can accelerate process of designating a third country a "candidate" country, you can even accelerate aspects of the negotiations. But you cannot fast-track EU membership as a whole.
2. Why? Because EU enlargement is complex. It's not just about political will. I wrote about it here (institutmontaigne.org/en/blog/making…) & tweeted steps here:
Read 5 tweets

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