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illuminem summarizes for you the essential news of the day. Read the full piece on Euronews or enjoy below:
🗞️ Driving the news: Clean tech exports from Central and Eastern European (CEE) nations like Poland, Bulgaria, Croatia, and Romania are projected to triple in the coming years, according to the World Bank
• These exports include products such as heat pumps, solar panels, EV batteries, and wind turbines
• This growth could bolster the EU's net zero 2050 target and enhance global competitiveness
🔭 The context: The EU's Net Zero Industry Act (NZIA) aims to have 40% of clean tech needs met domestically by 2030 and contribute 15% to global clean energy demand by 2040
• Achieving this requires coordinated efforts among member states, increased private sector investment, and expanded R&D
• CEE countries, struggling with high inflation and economic inequality, could leverage clean tech exports for financial recovery and growth
🌍 Why it matters for the planet: Scaling clean tech production and exports aligns with the EU’s decarbonization goals, reducing reliance on external energy sources like Russia
• By supporting sustainable technologies, the region can drive innovation while mitigating climate change
• This shift also aids in creating greener, more resilient economies in vulnerable member states
⏭️ What's next: The EU must invest in research, talent, and supply chains while ensuring fair internal competition to sustain this growth
• As the bloc balances recovery from inflation and trade tensions, fostering clean tech leadership will be critical
• Efforts to promote economic inclusion alongside the green transition remain essential for long-term stability
💬 One quote: “The green transition offers opportunities to create jobs and boost industries in ways that are fair and far-reaching,” - Anna Akhalkatsi, EU Country Director for the World Bank
📈 One stat: EU inflation was at 2.5% in November 2024, nearing the European Central Bank’s target of 2%
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