The European Union pushed forward on Tuesday with a major clean tech industrial plan which not only should keep the continent in the vanguard of plotting a greener future but also guarantee its economic survival as it faces challenges from China and the United States, according to AP.

European Commission President Ursula von der Leyen presented the outlines for her “Green Deal Industrial Plan” that will make it much easier to push through subsidies for green industries and pool EU-wide projects that are boosted with major funding as the EU pursues the goal of being climate neutral by 2050.

“We know that we have a small window to invest in clean tech and innovation to gain leadership before the fossil fuel economy becomes obsolete,” von der Leyen said.

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