Flanders invests 70 million euros into green industry
Flemish minister of industry Matthias Diependaele (N-VA) announced a 70 million euro investment to help make the region’s industry more sustainable. On Friday, the Flemish government approved the pilot programme Climate Leap, which will fund projects like large-scale electric boilers and heat pumps to reduce CO2 emissions.
The initiative aims to support large companies emitting at least 10,000 tons of CO2 annually, offering up to 2 million euros per year for ten years. Funding will be allocated through an auction system prioritising projects with the most significant CO2 reduction per euro spent. Companies can submit proposals until May 2025.
“Our Flemish industry is currently struggling with high energy prices and losing competitiveness,” said Minister Diependaele. “This investment supports our industry in tough times and helps companies embrace the energy transition profitably to secure our prosperity.”
Business organisation Voka welcomed the initiative but called for more substantial funding. "This is a step in the right direction, but 70 million euros won’t be enough to ensure climate neutrality and maintain competitiveness," said Managing Director Hans Maertens. Voka is urging the government to create "a fully-fledged climate transition financing mechanism" with significant resources, noting that neighbouring countries are investing billions in similar efforts.
#FlandersNewsService | © PHOTO BELGIAN_FREELANCE
Related news
