The European Commission has finalized its long-anticipated investment agreement with China. While some renewable energy businesses might benefit from improved investment security, IP protection and access to legal remedies in China, the Commission did not address the issue of Uyghur forced labor in China. As a majority block in the European Parliament had previously demanded from the Commisison to develop a firm policy to end forced labor in China, there is reason for doubt that the agreement as it stands will be adopted by the EU Parliament.
The parliament and EU member states will now mull the proposed budget for 2021-27 which includes a €750 billion Covid recovery package and a Strategic Investment Facility it is hoped will unlock €150 billion for renewables and energy storage to 2027.
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