The European Commission has approved a €408 million (~$477.36 million) Spanish scheme to support the decarbonisation of the manufacturing industry, in line with the objectives of the Clean Industrial Deal. This measure will contribute to the transition towards a net-zero economy and is funded under the Recovery and Resilience Facility (RRF). The scheme was approved under the Clean Industrial Deal State Aid Framework (CISAF) adopted by the commission on June 25, 2025.

Spain notified the commission, under the CISAF, a €408 million (~$477.36 million) scheme to support the decarbonisation of the manufacturing industry, which contributes to the objectives of the Clean Industrial Deal. The scheme will be fully financed by the RRF, following the commission’s positive assessment of Spain’s recovery and resilience plan and its adoption by the council.

The EC has approved a €408 million ($477.36 million) Spanish scheme under the Clean Industrial Deal to support industrial decarbonisation, funded by the Recovery and Resilience Facility.
The scheme will provide grants for energy-efficient, low-carbon technologies across sectors, aiming to cut 1.6 megatonnes of CO₂ annually, with aid capped at €200 million(~$234 million) per project.

The purpose of the scheme is to support the decarbonisation of manufacturing processes in existing installations through the deployment of investments contributing to reductions of greenhouse gas (GHG) emissions from industrial activities, and the improvement of the energy efficiency of industrial processes, the European Commission said in a press release.

Spain expects annual GHG emission savings of around 1.6 megatonnes of CO2. The measure will support investments into technologies such as electrification, shifting to renewable or low-carbon hydrogen, recovery of waste heat, carbon capture, storage and utilisation, in a wide range of sectors including chemicals, ceramics, paper and metallurgy. Under the scheme, the aid will take the form of direct grants. The measure will be open to enterprises of all sizes, and to installations and sectors within and outside of the Emission Trading System.

The commission found that the Spanish scheme is in line with the conditions set out in sections 3 and 5 of the CISAF.

Under the scheme, the aid amount is determined based on the eligible investment costs and pre-defined aid intensities (the percentage of supported costs), in line with the CISAF. Aid will be granted to eligible projects on a first-come, first-serve basis until the budget is exhausted. Projects need to be in operation at the latest 60 months after the aid is granted. To limit the undue distortion of competition, the aid cannot be used to finance an increase in the production capacity of the beneficiary. The maximum aid amount per company per project is capped at €200 million (~$234 million).

Fibre2Fashion News Desk (RR)

ICE cotton futures closed lower amid weaker US export sales, while higher supply expectations added further pressure on prices. The retreat in the US dollar following a declining trend also weighed on the ICE cotton market.

The most active March 2026 cotton futures settled at 63.10 cents per pound, down 0.84 cents, or 1.31 per cent. The March, May, July, and October 2026 contracts also declined, while the December 2026 contract touched a new intra-day low.

ICE cotton futures weakened as soft US export sales and higher supply expectations reinforced bearish sentiment.
US mill use near a 150-year low and projected ending stocks of 4.5 million bales signal persistent demand weakness.
Rising synthetic fibre substitution and active short positioning continue to pressure prices despite a softer dollar.

Market sentiment remained bearish, with no fresh bullish triggers. Fundamentals continued to weigh on prices, as US mill use hovered near a 150-year low, highlighting structurally weak demand. US ending stocks are projected at 4.5 million bales, signalling a heavy supply overhang, while cotton continues to lose textile demand to synthetic fibres.

Trading volume rose to 51,532 contracts, the highest in four weeks, confirming strong bearish participation. ICE certified stocks stood at 12,474 bales as of December 15, down from 13,971 bales the previous day.

Market analysts noted that the post-harvest market remains directionless, with growers weighing the decision to sell or store. A weaker dollar could provide longer-term support. However, the US dollar index retreated despite stronger-than-expected US jobs data, pointing to Federal Reserve caution on further rate cuts. The US added 64,000 jobs in November, exceeding expectations.

According to CFTC data for the week ended November 25, net short positions declined by 5,398 contracts to 66,081, indicating a modest improvement in sentiment.

This morning (Indian Standard Time), ICE cotton for March 2026 traded at 63.27 cents per pound, up 0.17 cent. Cash cotton was quoted at 60.85 cents, down 0.84 cent. The May 2026 contract traded at 64.45 cents, up 0.19 cent; July 2026 at 65.60 cents, up 0.22 cent; October 2026 at 65.87 cents, down 0.78 cent; and December 2026 at 67.27 cents, up 0.24 cent. A few contracts remained at their previous closing levels, with no trades recorded so far today.

Fibre2Fashion News Desk (KUL)

Mauro Grange- one of the founding partners of Quadrivio Group’s Made in Italy Fund I- has assumed the dual role of CEO of Dondup and PT Torino with immediate effect, succeeding Matteo Anchisi, who has led both companies in recent years.

“I am pleased to personally steer the companies into their next phase of development, which will include further strengthening of the collections and a strong emphasis on communication to increase awareness,” said Grange. “Both are exemplars of Italian excellence, recognised for their heritage, quality, research, and attention to detail. Communication, in particular, will play a central role in the brands’ transformation and enhancement, helping to drive strong financial performance.”

The focus of the new long-term strategy will therefore centre on communication and innovation, through targeted work on brand equity and strategic positioning, both in Italy and in international markets.