Supplement, Oil & Energy

Conference on EU energy strategy

Investments in clean, sustainable energy urged

Published : 16 Nov 2019 07:34 PM | Updated : 07 Sep 2020 07:00 PM

A conference of the European Strategic Energy Technology (SET) Plan underlined here on Friday the need for the European Union (EU) to provide the energy industry with "a predictable and coherent frame" for investments towards clean and sustainable energy, report agencies.

In its final statement, the conference underscored the "commercialisation of leading low-emission and clean energy technologies" as a way to maintain the global competitiveness of Europe.

The two-day conference also called for more investments in clean energy technologies so that industries could transform these technologies into a competitive advantage on the global markets.

Addressing the conference on Friday, Helene Chraye, head of the unit of Clean Energy Transition at the Directorate-General for Research and Innovation of the European Commission, acknowledged the concerns of the industries.

The magnitude of restructuration required by the climate approach "looks worrying to most of the industries," she said, noting that industries also hope that the structure of energy prices would match their "expectations".

Some 400 industrialists and government officials attended the conference which concluded on Friday.  The participants also emphasized that the change should not disadvantage any region or its residents. The SET Plan has been the research and innovation pillar of the EU's energy and climate policy since 2007. It was set up to accelerate the transformation of the European energy system and to bring low-carbon energy technologies to the market.