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The European Union aims to reach climate neutrality by 2050, with a 55% reduction in net greenhouse gas emissions by 2030. Meeting these goals will require not only decarbonising the energy system but also fundamentally transforming industrial production.

As part of its efforts to decarbonise energy-intensive industries, the European Commission is designing the legislative proposal Industrial Accelerator Act (IAA). The IAA will build on provisions of the Net Zero Industry Act to speed up permitting and clean transition in these sectors, while maintaining competitiveness. It is foreseen to to create markets and drive early demand for low-carbon products in the EU. Called “Green Lead Markets”, these markets aim to create strong, policy-backed demand for products made with clean technologies, notably hydrogen-based products, in sectors like steel, fertilisers, chemicals, and transport.

Lead markets focus on innovative products or technologies to create early demand and help drive adoption and cost reductions. Green Lead Markets’ goal is to actively stimulate the market for green products through different measures. Those include carbon footprint labels, green public procurement, and buyer obligations, supporting industrial competitiveness while reducing emissions. However, criticisms of Green Lead Markets remain, for instance on the high cost of green products. Some stakeholders argue that the EU has an opportunity to become the global standard-setter for low-carbon products, but achieving this will need coordinated market strategies, investment, and regulation.

Join this Euractiv Hybrid Conference to explore Green Lead Markets and the potential they hold for driving industrial decarbonisation across the EU. Questions to be discussed include:

· What is the role of Green Lead Markets in decarbonising industries in the EU?

· How can the EU ensure Green Lead Markets create lasting demand for green products? What role will the upcoming IAA play in this?

· How will Green Lead Markets help Europe stay competitive?

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