BRUSSELS — Teresa Ribera promised “swift and effective state aid” to back the European Union’s Clean Industrial Deal, pitching public funds as a way to unlock private sector investments in “considerable” decarbonization costs, she told the European Parliament ahead of her Nov. 12 confirmation hearing as the bloc’s new climate and competition chief.
“We cannot afford to delay public support for the energy transition or measures to decarbonise the European industry and enable its competitiveness,” she said. “We need to go faster and further in our enforcement to achieve our common goals.”
The Clean Industrial Deal — a bill to help companies meet the EU’s ambitious carbon-cutting targets and boost climate-friendly technologies — is one of Ribera’s top agenda items. The EU has vowed to release the legislation within 100 days of Ribera taking office.
Ribera said “private financing will and should cover most needs” of industrial decarbonization. Public financial support should help trigger private investments and she’ll “look to create opportunities for combining more effectively” funding from the private sector, national sources and EU funds.
