European Commission President Ursula von der Leyen has drawn attention to the energy costs reflected in the European economy due to the closure of the Strait of Hormuz. Speaking at the WinWin Summit held in Brussels, von der Leyen stated that imported fossil fuels have brought an additional cost of 127 billion euros to Europe during this process.
Evaluating energy policies, competitiveness, and clean industry investments, von der Leyen emphasized that oil and natural gas imports mean not only increased costs but also price shocks and the risk of crisis. For this reason, the European Commission President stated that reducing Europe's energy dependence is critical for economic resilience.
Von der Leyen said that Europe maintains its goal of becoming the first climate-neutral continent by 2050. Reminding that an agreement has been reached on the EU's 2040 climate target, von der Leyen noted that the union has committed to reducing emissions by 90 percent by 2040.
EMPHASIS ON CLEAN INDUSTRY AND INVESTMENT
The European Commission President announced that over 1.2 trillion euros have been invested in sustainable activities since 2021. Stating that the global clean technology market is growing by approximately 20 percent annually, von der Leyen said that Europe must reach a strong position in this field not only as a user but also as a producer.
Von der Leyen reported that since the EU Emissions Trading System came into effect in 2005, emissions in the sectors it covers have decreased by approximately 50 percent, while the economy has grown by 30 percent in the same period. She stated that the system has generated over 270 billion euros in revenue, which is redirected into clean technologies and innovation.
Touching upon the Industrial Decarbonization Accelerator, which is being worked on to support the transformation of industry, von der Leyen stated that the goal is to mobilize 100 billion euros in resources through this mechanism.
News Source: 12punto
