STATEMENT: ZEP calls to support increase of Innovation Fund and Horizon Europe
ZEP strongly supports the European Commission’s proposal for a regulation Strategic Technologies for Europe Platform (STEP) that proposes to increase the size of the Innovation Fund and Horizon Europe funding programmes and calls on the Council to align with the European Commission to increase funding under the Innovation Fund and Horizon Europe programmes.
ZEP reiterates the need for an appropriate response to the US Inflation Reduction Act and ensure the EU’s industrial decarbonisation while preserving jobs and economic activity.
The EU’s Net Zero Industry Act objectives for 2030 and pathways to net-zero rely on the large-scale deployment of CCS and increased support under the Innovation Fund. ZEP would also highlight the need to strenghthen research and innovation of CCS, as proposed by the European Commission.
What is STEP?
STEP is the Strategic Technology European Platform, a regulatory proposal from the European Commission aimed at boosting Europe’s green and digital transition. STEP would allocate €10 billion for the deployment of strategic net-zero technologies and increase the size of the Innovation Fund and Horizon Europe funding programmes.