Europe’s climate goals face hurdles, EU Innovation Fund projects show

Decarbonising is not working as well as the EU had hoped. (Image: Bloomberg)

Thu, 11 Apr 2024

(Bloomberg) - A solar panel manufacturer that’s laying off workers. A battery maker that spurned Europe for American subsidies. A green hydrogen project stalled for lack of electricity.These are a handful of the early results from the European Union’s Innovation Fund, a €40 billion (NZ$71.5b) investment vehicle at the core of Europe’s plans to overhaul its economy to be zero-carbon by the middle of the century. It’s also part of the EU’s counter to the US Inflation Reduction Act; officials hope the subsid...

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