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Europe needs its own Inflation Reduction Act

Europe’s journey with US’s landmark climate legislation looks to be slowly moving to its inevitable end point: acceptance that Europe is going to have to start throwing more cash at its clean energy sector if it wants keep up with the Americans.

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Ursula von der Leyen, the European Commission president, promised energy bosses at Davos last week that the EU would ease rules on state clean energy subsidies and speed up permitting for new green projects, acknowledging the need to keep up with green incentives in the US’s Inflation Reduction Act.
Ursula von der Leyen, the European Commission president, promised energy bosses at Davos last week that the EU would ease rules on state clean energy subsidies and speed up permitting for new green projects, acknowledging the need to keep up with green incentives in the US’s Inflation Reduction Act. (Foto: Valeria Mongelli/AFP/NTB)

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