Europe urged to fight US for low-carbon investment
Continent should match US policies such as the Inflation Reduction Act to attract capital for net-zero push, says former vice-president Al Gore
Europe must compete more aggressively with the US for private investment in low-carbon technology and create an international rivalry that could trigger a “race to the top” in the push for net zero, former US vice-president Al Gore told the World Economic Forum in Davos today. The EU is under pressure to respond to Washington’s recently passed Inflation Reduction Act (IRA), which has enabled the US to seize the initiative in the global competition for capital by offering world-leading tax credits to technologies including CCS and low-carbon hydrogen. In December, the Council of the EU and the European Parliament finalised negotiations on a Carbon Border Adjustment Mechanism (CBAM), which imp
![](/images/white-fade.png)
Also in this section
21 July 2024
Awards experience 20% increase in nominations this year, with submissions from 27 countries
18 July 2024
Platform developed at Scottish university uses advanced simulations and machine learning to find most cost-effective and sustainable combinations of materials for use in carbon capture
18 July 2024
Stockholm Exergi agrees to one of world’s largest deployments of CO₂ liquefication technology to enable transport of emissions captured from biomass power plant
11 July 2024
Watkins will leverage her financial acumen and strategic insight to lead Gulf’s commercial initiatives across media, events, and market intelligence