The European Commission has launched its Green Deal Industrial Plan, a series of strategies aimed at boosting the competitiveness of Europe’s net-zero industries.
According to ESG Today, the plan focuses on key areas including creating a simpler regulatory framework to facilitate net zero industries, upskilling the European workforce for the green transition, accelerating access to investment and financing, and enhancing global trade cooperation for cleantech and raw materials.
The plan was first introduced by Ursula von der Leyen – the EU Commission President – at the World Economic Forum at Davos in January.
Some of the plans to create a more predictable and simplified regulatory environment will include a net-zero industry act that is aimed at providing faster permitting to facilitate the quick deployment of the EU’s net-zero industrial capacity and net-zero technologies.
In addition, a Critical Raw Materials Act will focus on ensuring access to materials needed for manufacturing clean energy-focused technologies. The plan, ESG Today adds, also envisions a reform of the electricity market enabling consumers to benefit from the lower costs of renewables.
In the area of finance and investment, the plan involves simplifying and accelerating aid granting at the state level to promote investment in key sectors. The Commission said that it will also propose a European Sovereignty Fund aimed at boosting resources for upstream research, innovation and strategic industrial projects.
To upskill and reskill the workforce for the green transition, the plan also includes plans to establish Net-Zero Industry Academies targeting specific industries, and will also focus on improving labour participation for youth, women and older workers, aligning public funding for skills development, and facilitating third country nationals to EU labor markets in priority sectors.
The Commission said that it aims to foster global cooperation and enable trade to help facilitate the green transition, with plans to develop a network of free trade agreements.
The Commission also said that it will explore the creation of a Critical Raw Materials Club, ensuring the supply of critical raw materials bringing together raw materials users and resource-rich countries.
Von der Leyen said, “We have a once in a generation opportunity to show the way with speed, ambition and a sense of purpose to secure the EU’s industrial lead in the fast-growing net-zero technology sector. Europe is determined to lead the clean tech revolution.”
Credit risk analysis and management firm Cerved has recently partnered with Greenomy to help Italian companies ensure compliance with new EU sustainable finance.
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![Temenos (SIX: TEMN) today announced that National Bank of Iraq (NBI), part of the Capital Bank Group, has successfully gone live with Temenos core banking and payments. NBI, which has 27 branches across Iraq, offers a comprehensive range of services to individuals and businesses in the country. Since 2005, NBI has been majority owned by Capital Bank, one of the top financial institutions operating in the Jordanian and regional markets, with assets of approximately JOD 7.6 billion[1]. With this implementation, NBI moved from its legacy systems onto the same core banking platform as other entities in the Capital Bank Group. This will enable NBI to operate more efficiently and integrate seamlessly with other systems to develop new products faster and deliver an improved customer experience. Capital Bank Group is a long-standing Temenos customer with other entities in the Group including Capital Bank of Jordan, Bank Audi, Société Générale Bank Jordan and NBI Saudi Arabia, already on the Temenos platform. NBI also becomes the first part of the group to adopt Temenos Payments, which enabled the bank to process more than 100,000 transactions of incoming and outgoing domestic and international payments in the first 15 days of operation, with a 99% straight-through processing rate. The migration to the Temenos platform for core banking and payments at NBI was completed in under 12 months thanks to Temenos’ pre-configured banking and payments capabilities and APIs which reduced the need for complex customizations, as well as close collaboration between Temenos, NBI, Capital Bank and delivery partner ITSS. This success was recently recognized in the IBS Intelligence Innovation Awards, with Capital Bank winning ‘Best Implementation of Core Banking Services'. The implementation at NBI follows several other successful transformation projects with Temenos for Capital Bank in the last few years, including the launch of NBI’s branch operations in Saudi Arabia in just 45 days, as well as the integration of Bank Audi and the former Jordanian operations of Société Générale, each of which was achieved in under four months. Collectively, these projects helped Capital Bank to increase operational efficiency by more than 50% within three years, bringing significant cost savings and an improved customer experience. With faster, more accurate processing and immediate service requests, the bank has maintained high customer retention rates and a reputation for service excellence. Izzidin Abusalameh, Chief Operations Officer, Capital Bank Group, commented: “This achievement marks a significant milestone in our digital transformation journey and positions us as a leading player in the banking industry. We have seamlessly transitioned the National Bank of Iraq to a cutting-edge core banking system which will not only enhance operational efficiency but also support providing our customers with a superior digital banking experience. Our continued partnership with Temenos has not only provided us with an advanced technological platform but has also facilitated a culture of flexibility and adaptability, enabling us to execute our ambitious growth plans.” Lee Allcorn, Managing Director, Middle East & Africa, Temenos, said: “Congratulations to National Bank of Iraq and the Capital Bank team on this successful implementation that gives NBI business agility and the same modern technology platform and ability to deploy fast with pre-configured banking capabilities as the rest of the group. With Temenos, Capital Bank Group is future-ready, and we are proud to support them as they continue to innovate and leverage our platform to grow sustainably and enhance the banking experience for customers.”](https://fintech.global/wp-content/uploads/2024/04/rupixen-Q59HmzK38eQ-unsplash-2-218x150.jpg "Flutterwave teams up with Acquired.com to streamline outward remittances in EU and UK")
