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The Green economy in Germany and Hungary

Started by Admin, Apr 17, 2024, 09:43 AM

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In March this year, the European Union took a significant step in the global fight against climate change by adopting the Temporary Crisis and Transitional Framework Programme (TCTF), accelerating the transition to a green economy. It is designed to support industries key to achieving a zero-emission economy under the EU's Green Deal industrial plan. Hungary and Germany are providing funds to support the green sector.

Responding to the US Inflation Reduction Act (IRA), the European Commission has unveiled the Green Deal industrial plan, which includes amendments to the TCTF to relax state aid rules. This could lead to increased national support, including financial and tax incentives for entrepreneurs investing in zero-energy technologies.

The TCTF, which has become a catalyst for supporting key sectors, helps accelerate the transition away from carbon-intensive technologies. It allows Member States to offer much greater assistance than previously. Green Economy Germany and Hungary are showing leadership by allocating funds for strategic investments in the green manufacturing sector.

Germany's Green Economy is making significant efforts to accelerate the transition to sustainable technologies and infrastructure. The country is allocating €3 billion to support a variety of green projects, including the production of batteries, solar panels, wind turbines and other technologies that help reduce emissions and improve energy efficiency. These investments not only promote environmental sustainability, but also create new jobs and stimulate economic growth.

Germany's green economy is also making an impact on the world stage, serving as an example for other countries and stimulating international co-operation on sustainable development. Germany is actively involved in various international initiatives aimed at combating climate change and achieving the goals of the Paris Agreement. Hungary also allocates significant funds to support green technologies.

These initiatives provide unique opportunities for entrepreneurs in the green sector. Financial support provided through the TCTF can stimulate innovative projects for a sustainable future. Considering funding opportunities through the TCTF can be a deciding factor for businesses.

It is important to note:

  • TCTF is a temporary measure, so it is important to utilise its opportunities now.
  • Entrepreneurs need to carefully review the TCTF criteria and requirements in order to properly apply for funding.
  • In addition to the TCTF, there are other green technology support programmes that can be useful for businesses.

Overall, the TCTF represents a significant step forward in combating climate change and developing a green economy. Entrepreneurs working in this field should carefully consider the opportunities it offers.