The EU’s long-term competitiveness, as made explicit in the Competitiveness Compass, must be built on “innovation-led productivity”, making Europe the home of “tomorrow’s technologies, services, and clean products… as we stay the course to climate neutrality.” 

Bellona believes that, as the world’s biggest single market, Europe must lead the race to the top, leveraging its economic pull to ensure climate impact is key criterion to determine the value and quality of goods and services, and ensuring its transitioning industries can compete in the global market. To reach such objectives, crucial infrastructure including clean energy networks – especially electricity grids – and CO₂ transport and storage will need to be deployed rapidly and extensively. By doing so, the European Union will manage to reach its climate objectives while at the same time enhancing European businesses and industries’ competitiveness, creating jobs and growth across the economy. These types of investments support value chain creation and can provide an economic stimulus far beyond the value derived from the infrastructure itself. This is crucial for Europe to become the largest market globally for low-carbon products – from renewable electricity through carbon-neutral steel and possibly even carbon-negative cement production. 

Read Bellona’s full response to the Consultation below.

• Consultation Response (pdf)