In April 2024, the Finnish Government unveiled its plan to fast-track industrial investments in green technologies through a proposed tax credit. The tax credit is specifically designed to encourage large-scale investments in projects that facilitate the shift towards a net-zero economy, with a focus on initiatives like battery and hydrogen projects and promoting a fossil-free steel industry. The legislative proposal aims to enhance Finland's competitive edge in attracting industrial investments while fostering a cleaner industrial ecosystem. This initiative aligns with the European Commission's state aid framework from spring 2023, which supports the transition to a greener economy in EU Member States. Projects eligible for the tax credit must commence post-application and cover areas such as renewable energy production, decarbonisation of industrial processes, and investments in equipment and critical raw materials essential for a climate-neutral economy. The tax credit, capped at EUR 150 million per company, is set at a maximum of 20% of investment costs to be utilized within 20 years. The proposal, which is open for feedback until October 11, 2024, is expected to be presented to the Parliament promptly to expedite its approval process. The aim is for the tax credits to be granted by the end of 2025 and utilized no earlier than 2028, in a phased approach of up to 10% per year. Investments beyond 2028 can only access the tax credit post-completion. The plan ultimately seeks to propel Finland's industrial sector towards a more sustainable and competitive future.