Sunday, July 14, 2024
HomeEU affairsFuelsEurope proposes recommendations to enhance Net Zero Industry Act 

FuelsEurope proposes recommendations to enhance Net Zero Industry Act 

FuelsEurope, the voice of the European Fuel Manufacturing industry, has welcomed the Net Zero Industry Act (NZIA) with its aim of promoting the ramp-up of critical technologies and their deployment to help EU decarbonisation objectives, as well as its focus on industrial investments and competitiveness.

“This legislative proposal shows a renewed attention towards energy security, providing a possible response to new global challenges,” read the press release. “With this perspective, we aim at contributing to this debate by sharing our views on how promoting the deployment of renewable and low-carbon technologies would help the resilience of the EU industry, which is currently facing a growing and dangerous trend of de-industrialisation.”

In particular, the association is recommending to establish a framework which supports and incentivises private investments for the deployment of renewable, low or zero-carbon technologies and products along the whole value chain; to promote the conversions/repurposing/upgrading of existing refinery assets for the production of low-emission fuels/energy; to include renewable and low-carbon fuels as defined in the RED as well as a wider range of renewable and low-carbon liquid fuels production technologies; to explicitly refer to the research and development for the production processes for upgrading/conversion of biomass wastes and residues; and finally, to include Carbon Capture and Usage (CCU), along with measures to create an efficient CO2 market in support of the development of Carbon Capture and Storage (CCS).

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