Europe’s Green Tech Race: Time to Accelerate

Spain’s climate and energy minister, Teresa Ribera, a leading contender for the EU’s top environmental position, asserts that the upcoming European Commission must take decisive action to propel European industries forward in the global green technology competition.

Currently, the EU is trailing behind both China and the U.S. in this critical sector.

As EU leaders convene to discuss key appointments within the next European Commission, Ribera emphasizes the urgency of addressing the challenges and opportunities presented by the green transition.

She warns that failure to act decisively could lead to Europe’s decline, while embracing the green agenda could be the catalyst for regaining a prominent global position.

Despite recent setbacks for green parties in European Parliament elections and gains by climate-skeptic far-right parties, Ribera remains resolute in her belief that delaying the green transition would be detrimental.

She argues that it would not only cost European companies their competitive edge in low-carbon industries but also expose farmers to increasingly severe climate impacts like droughts and extreme heat.

In the face of intensifying global competition, particularly from China, Europe is taking a firmer stance. This includes imposing tariffs on Chinese electric cars and investigating subsidies for Chinese wind and solar suppliers.

To regain momentum, Ribera proposes that the next Commission engage in consultations with local industries to identify the specific conditions that would enable them to compete effectively with the U.S. and China.

This could involve increased public investment in next-generation technologies or streamlining bureaucratic processes.

One of the first priorities for the next EU Commission will be to establish a 2040 climate target to guide Europe towards its 2050 net-zero emissions goal.

Ribera expresses support for the Commission’s initial proposal of a 90% emissions reduction by 2040, with the potential to go even further if feasible.

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