#1110
overall
Andreas Goldthau
Europe’s answer to the Inflation Reduction Act should be global cooperation
A green industrial program of some $400 billion in federal funding, the IRA has caught Europe wrong-footed. The fallout of Russia’s Ukraine war – strained public budgets and an ailing economy – have shifted policy priorities and temporarily put climate policies into the backseat. What is more, whilst the EU is traditionally good at fostering market competition, also in clean energy, it is less so in nurturing green champions.
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