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 not only require decarbonising our 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 the provisions of the Net Zero Industry Act (NZIA) to speed up permitting procedures and the clean transition in these sectors while maintaining competitiveness. Part of the strategy is to create markets that 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.

The goal of Green Lead Markets is to actively stimulate the market for green products through different measures and lead to cost reductions. 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 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.

Listen to 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?