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EU competition, state aid rules need to be adapted to 'new realities,' Timmermans says

( February 4, 2021, 13:23 GMT | Official Statement) -- MLex Summary: EU competition and state aid rules need to be “clear” and adapted to "new realities," the bloc’s climate chief said today. Frans Timmermans was referring to the economic environment emerging from the transition away from fossil fuels in favor of clean energy. “We shouldn’t be putting public money into industries that pollute, that do significant harm,” he said in a speech, adding that long-term investments into the transition should instead be facilitated. In addition, he pointed to the aviation sector as an area where state aid and competition rules can prompt emission cuts by, for example, supporting a shift toward cleaner fuels.Full speech follows....

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