The European Net-Zero Industry Act: planting the seeds for sustainable economic growth

The European Net-Zero Industry Act (NZIA) presents a great opportunity for the EU to address climate change while encouraging economic growth. This package arrives at times of need given the ongoing crises and other countries’ decarbonisation investments, particularly the US Inflation Reduction Act. On Wednesday, 25 October, the European Parliament passed a vote to support the Act’s adoption, demonstrating their sustained commitment towards the NZIA’s sustainability goals. The American Chamber of Commerce to the EU (AmCham EU) supports this initiative and is pleased to see the EU making advancements in the green transition without hindering economic prosperity.

News
25 Oct 2023
The European Net-Zero Industry Act: planting the seeds for sustainable economic growth

AmCham EU member companies are also highly committed to reducing carbon emissions while protecting the EU’s competitiveness. However, to strike this balance the Act must include any technology that contributes to decarbonsation, such as Carbon Capture and Storage, in its benefit package. The EU must also prioritise regulatory coherence, geographic non-discrimination, simplified funding support, and it must address the current skills shortage. Finally, European policymakers should encourage transatlantic cooperation on strategic investments and incentives to avoid duplication and shift supply chains away from strategic rivals.

American industry in Europe is committed to collaborating with the EU in its search for low-carbon energy and technology manufacturing, but we must ensure that the region’s competitiveness is not hindered in the process.

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On Wednesday, 9 September, AmCham EU joined 19 other associations to mark Brussels’ return from the summer break at the Royal Belgian Institute of Natural Sciences. The event drew over 800 guests and included a keynote speech by Jessika Roswall, European Commissioner for Environment, Water Resilience and a Competitive Circular Economy. The evening provided a platform for stakeholders from industry, politics, civil society and media to connect. This year’s conversations focused on Europe’s place in a changing world and the policies needed to boost growth and the EU’s competitiveness.

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Public Procurement Act: an ambitious step forward for simplified procurement in the EU

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International companies bring significant value to the EU’s public procurement markets. The PPA would allow them to continue contributing to the EU through a clear framework for Made in Europe built around the EU’s public procurement agreements. Undermining these commitments or creating excessive compliance costs would decrease the EU’s access to best-in-class solutions and take limited resources away from the PPA’s other improvements. The current proposal would further the EU's economic security agenda without closing off procurement markets to trusted partners. The PPA can succeed if it creates a simple and quality-driven system that supports the EU’s competitiveness agenda.

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Advancing EU-US consumer protection cooperation

On Wednesday, 9 September, AmCham EU hosted a roundtable on transatlantic consumer cooperation as a part of the European Union’s International Product Safety Week and the International Consumer Product Health and Safety Organization’s International Symposium. The discussion explored how closer EU-US cooperation could improve consumer outcomes in practice, from product safety and recalls to fair commercial practices, as the European Commission prepares to revise the Consumer Protection Cooperation framework.

The exchange began with reflections on the state of play of transatlantic consumer cooperation from Sarah Wilson, Partner and Chair of the Product Safety Practice Group, Covington; Pierre Minoves, Acting Policy Assistant, Cabinet of Commissioner McGrath, European Commission; and Léa Auffret, Director, Transatlantic Consumer Dialogue. This was followed by a discussion with leading EU and US experts, officials and AmCham EU member representatives about how improving EU-US cooperation in consumer protection can deliver benefits for businesses, consumers and regulators. Thank you to Covington for sponsoring and to Razvan Antemir (Amazon), Chair, Consumer Affairs Committee, AmCham EU for moderating.

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