Good evening,
For the EU, it is fair to say that decarbonisation is at the intersection of many of the challenges that we face.
It has all to do with the world we are living in today.
We have a very complicated geopolitical environment. A climate crisis. Evolving security threats.
In Europe, we have challenges but also ambitions in terms of competitiveness.
Our citizens have valid concerns about job security and the future of their industries.
So we very much need decarbonisation as a strategic move to make we achieve three things at the same time: more competitiveness, more climate action, and more independence.
One of the lessons we have learnt the hard way the last couple of years. Russia, after they started the war in Ukraine, started playing with the dependence that we have on their oil and gas.
Competitiveness, climate, and independence.
This is going to help us mitigate the damage climate change is doing to our economy.
This summer alone, its estimated that droughts, heatwaves and floods cost the EU EUR 43 billion in losses – and that doesnt even factor in the damage from wildfires. We dont have the numbers for them yet.
But more importantly, decarbonisation is also a massive economic opportunity, from a negative but also from a positive perspective because it will drive down energy prices.
This is why we launched a Clean Industrial Deal for Europe.
It combines market incentives and the right policy signals to create a strong business case for investing in the transition.
Were doing a number of things:
Drastically cutting red tape to make it easier to do business.
Accelerating permitting procedures.
Enhancing the level-playing field. Keeping competition but eraticating unfair competition.
Doubling down on grids investments.
Lowering electricity costs by generating more homegrown renewables, using nuclear power as a baseload.
Having storage capacity, interconnectors between Member States.
Having the intelligence, AI.
And it gives businesses and investors exactly what theyve been demanding – greater predictability and stability, to invest with confidence in clean tech and innovation.
It is hugely important that we drive down these costs.
Finally, let me be clear about one thing.
We will continue with our climate commitments.
Last week, we got a concensus on the Statement of Intent to come up with an NDC, a 2035 target, of a range of 66,25 to 72,5, which is quite ambitious.
This should lead to a trajectory where we reach 90% of emission reduction by 2040.
In our view, this articulates what would be the true North for businesses and governments in this transition.
None of us is alone in facing these challenges.
We are all in the same boad.
This is a global effort, we need to make sure we tackle it together.
Thank you.
