Commission proposes Industrial Accelerator Act

The proposal follows recommendations set out in the report led by former European Central Bank President Mario Draghi on the future competitiveness of the European economy. The IAA introduces targeted requirements for public procurement and public funding programmes that prioritise products manufactured in the EU or with low-carbon production standards. These criteria are initially intended for selected strategic sectors, including steel, cement, aluminium, the automotive industry and net-zero technologies. The framework may later be extended to additional energy-intensive sectors such as the chemical industry.