B7 Environment Conference in Paris: How to make Europe’s energy transition competitive

At the Ministerial breakfast during the B7 Conference on Business Leadership for Environmental Security, Competitiveness and Resilience, BusinessEurope Director General Markus J. Beyrer joined France's Energy Minister Monique Barbut and MEDEF President Patrick Martin to discuss how to keep the energy transition on track without undermining Europe's industrial base. Beyrer stated that the energy transition must remain high on the political agenda. It has the potential to create business opportunities and attract investments, but only if there is a viable business case. "Decarbonisation should not mean de-industrialisation", he said, pointing to high energy costs, supply disruptions, and the challenge of sustaining investment. What we are missing are the incentives and a business case to invest in decarbonisation. To deliver on the EU's climate ambitions, the right framework conditions must be in place. First of all, European industry needs strong protection against carbon leakage until there is a level playing field. Adapting the Emissions Trading System (ETS) and promoting technology neutrality are key elements paving the way to 2050's climate neutrality. Simplifying EU legislation is equally critical. Making it easier to do business in Europe will help unlock the investments needed for the transition, and BusinessEurope's Omnibook offers concrete, actionable solutions.