‘Good policy’ for EU to match US green plan with own subsidies – Yellen

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US Treasury Secretary Janet Yellen encouraged the idea of green subsidies by the European Union to offset feared harm from a vast US climate plan — arguing there is enough business for all to benefit from the clean energy transition. | AFP

The Treasury secretary was speaking at the site of a future Ultium Cells battery plant in Tennessee, as the United States puts into action President Joe Biden’s ambitious climate action plan.

To head off the threat, the EU last week unveiled proposals such as a relaxation of state aid rules to level the playing field.“We want to make sure that we have adequate supplies of all the things that are critical for clean energy, from batteries to solar panels, to wind turbines,” she added.

 

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