A group of more than 20 multinational companies is urging the European Union to take immediate action to make its energy supply more sustainable. The companies say the EU is too dependent on imported energy, mainly oil and gas, which has led to sharp price rises linked to the war involving Iran.
The group includes food company Unilever and technology firms Amazon, Microsoft, and Google. They are united in the Corporate Leaders Group Europe (CLG Europe). The companies aim to have electricity account for half of all energy consumption by 2040.
To reach this goal, they say investment rules must become more attractive and energy policy more predictable. According to CLG Europe, frequent policy changes create uncertainty and discourage long-term investment in the energy transition.
The companies also point to weaknesses in the high-voltage electricity grid. They are calling for major modernisation to support increased electrification. In addition, they say energy-saving measures can help reduce demand for fossil fuels.
“Now that geopolitical tensions and energy market prices are rising again, the EU cannot ignore the dangers of dependence on imported fossil fuels,” said Ursula Woodburn, Director of CLG Europe, in a statement. “Accelerating the energy transition is one of the most effective ways to strengthen Europe’s energy security, while improving the competitiveness of industry through more stable and predictable energy costs.”
Other companies supporting the appeal include Volvo and Coca-Cola. The call comes ahead of the twelfth Green Growth Summit, which will take place in Brussels on Monday. European climate ministers and EU policymakers are expected to attend.
@anp | NEWS BRAINPORT
