The European Commission (EC) set out its USD270bn Green Deal Industrial Plan to support Europe's race to green transition and boost its net zero industry. EC President Ursula Von der Leyen announced the plan at the World Economic Forum in Davos, saying it's a response to the U.S. Inflation Reduction Act. IRA is the leading climate law revealed last year with $369 billion funds to decarbonize industry and transportation in the U.S. So, to keep its competitive edge in the green tech space and net zero, the EU Green Deal is revitalized. The proposed plan will set aside EUR250bn (USD272bn) from the existing EU funds aimed at decarbonizing the bloc's economy.

Source: carboncredits