The EU can turn its climate leadership into a global competitive advantage by putting innovation at the heart of its energy policy.
That’s according to a report by the Industrial Innovation for Competitiveness (i24c) which stated the Energy Union can ensure Europe is the world leader in the transition to a low carbon economy.
The i24c initiative is a platform dedicated to developing and promoting an industrial strategy that secures the European industry’s competitive advantage through innovation.
It is made up of industrial entrepreneurs, policymakers, academics and opinion leaders from civil society.
The report added: “The European Union has led the world in calling for action on climate change. For 30 years, EU Member States have worked to reduce their emissions and have advocated international cooperation to tackle this global threat.”
It believes “there are signs the EU’s leadership is bearing fruit”. For example the Paris Agreement is boosting global efforts to decarbonise the economies of countries as hundreds of billions of cash are being invested in clean energy generation and efficiency.
It added: “This presents Europe with an enormous opportunity: domestically, in cutting our energy bills, cleaning our air and reducing our impact on the climate but also overseas, in exporting our technology and expertise around the world, creating jobs and growth.”