<h1>EU Unveils Strategy to Re-industrialize Amid Criticism Over Climate Impact; Proposals Await Review and Approval</h1> The European Union executive announced a significant overhaul of its economic strategy to address industry concerns over high taxation, energy costs, and bureaucracy. This plan aims to re-industrialize the EU, counteract economic stagnation, and reduce dependency on external markets amidst geopolitical instability. It includes investments and savings worth hundreds of billions, with proposals such as an 'industrial decarbonisation' bank. However, environmental groups criticize the plan, fearing it undermines the EU's climate goals by favoring energy-intensive industries. The proposals will be reviewed by the EU parliament and member states before becoming law. Critics argue it deviates from the 2019 European Green Deal.