Clean investments benefit both climate and the economy
A statement by Émeline Spire, Director Europe, Agora Energiewende, on the ‘Competitiveness Compass’, released by the European Commission today.
Brussels, 29 January 2025. "The transition to climate neutrality and competitiveness are inseparable, and it’s essential that the competitiveness compass announced today clearly recognises this. It’s important to build on this by actively seeking synergies between the two - investing in the right areas benefits both competitiveness and climate. Key examples include lead markets for clean technologies and climate-friendly products, as well as securing EU infrastructure fit for a net-zero future, both of which are rightly highlighted in the competitiveness compass. However, the communication gives only limited attention to electrification, even though it is central to achieving resilience, climate neutrality, and competitiveness. Electrification enables industry to tap into low-cost, domestically produced renewable energy, which already accounts for nearly half of Europe’s power generation. It is crucial that the upcoming Clean Industrial Deal prioritise this key strategy and drive the electrification of end-use sectors."
