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I imagine Europe is uniquely positioned to answer the power and supplies transition and can truly emerge as one of many winners on this period for a number of causes. Firstly, if we begin with shopper preferences, Europeans are very forward-leaning customers preferring round merchandise and environmentally-friendly alternate options.
Secondly, if we take a look at Europe’s regulatory atmosphere, now we have been advancing our insurance policies in lots of areas, together with CO2 pricing and biofuel mandates. So the regulatory atmosphere could be very favorable for advancing the applied sciences needed for a sooner power and supplies transition to a brand new period.
Thirdly, it’s already dwelling to many international powerhouses within the areas of innovation required to make this important transition. Whether or not you take a look at hydrogen, sustainable aviation gasoline, and lots of others on the reducing fringe of this power and supplies transition, the main gamers are discovered right here in Europe.
And fourthly, which is partly a results of the three factors I discussed, we’re beginning to see know-how clusters arising across the continent. We’ve a cluster in Iberia, and one other one within the Nordic international locations, the place academia, start-ups, giant enterprises, channels, and laws have come collectively to create the dimensions important to compete globally.
In case you put all this collectively, I imagine Europe presents many funding and employment alternatives. I additionally suppose it places us on the reducing fringe of ESG efficiency and CO2 emissions and also will have optimistic well being advantages for Europeans.
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