The European Commission has unveiled plans to invest €4.6 billion in decarbonisation technologies and clean hydrogen initiatives as part of the European Green Deal Industrial Plan. This significant investment will be sourced from the EU Emissions Trading System (ETS) and aims to propel the EU towards climate neutrality. A substantial portion of the funding, amounting to €3.2 billion, will be dedicated to advancing electric vehicle battery cell manufacturing and enhancing renewable hydrogen production through the European Hydrogen Bank. These initiatives are designed to bolster Europe's net-zero industries and promote the adoption of cutting-edge green technologies. The funding will be facilitated by the EU's Innovation Fund, which generates revenue from the EU ETS. Notably, the ETS has been pivotal in EU climate policy by pricing carbon emissions in various sectors, with recent updates expanding its reach to raise an estimated €40 billion by 2030. Additionally, 85 decarbonisation projects have been chosen to receive a substantial €4.8 billion from the Innovation Fund in 2024, solidifying its status as a major global funding source for net-zero technologies. By prioritizing investments in clean energy and advanced technologies, the EU underscores its commitment to climate neutrality and enhancing industrial competitiveness in the global green economy.