Significant developments are underway in the Net-Zero Insurance Alliance (#NZIA) Brussels process

🏗️ As part of the hashtag#EUGreenDeal, NZIA was introduced in March. It aims to strengthen the European manufacturing capacity of net-zero technologies by overcoming barriers to scaling up the manufacturing capacity in Europe, as well as accelerating the capacity to store CO2 emissions. 

📏 The proposal sets a benchmark for the manufacturing capacity of strategic net-zero technologies to meet at least 40% of the EU’s annual deployment needs by 2030 and a target of 50 million tonnes of annual CO2 storage capacity by 2030.

🗓️ Here's a comprehensive guide to the critical dates:

EUROPEAN PARLIAMENT:

☁️ Compromise Amendments Agreed: The rapporteur and shadow rapporteurs have reached a consensus, notably including Carbon Dioxide Removal (CDR) in the list of net-zero technologies (Article 3).

✍️ Committee on Industry, Research and Energy (ITRE) Vote on 24th October: Voting will take place in three blocks: 1️⃣ Scope, 2️⃣ Net-Zero Values, and 3️⃣ Green Procurement & Access to Market

☑️ Plenary Vote in November: Post-committee vote, the amendments move to a plenary vote.

COUNCIL:

☢️ Ongoing Scope Discussions: Member States are discussing the scope of strategic technologies. Currently, the debate is highly centered on the inclusion of nuclear.

📜 General Approach in December 2023: The Council is set to adopt its general approach.

👀 So take note and stay tuned as we navigate these crucial policy-making stages. 

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