Climate Change

16 May 2022

Business Consortium Urges EU to Strengthen Energy Security

16 May 2022  by   

Image: Shutterstock

More than 100 business bosses have called on Europe to strengthen its energy security by accelerating the green transition.

That follows a letter written by a group of 140 firms to European Commission President Ursula von der Leyen, ahead of the publication of its REPowerEU energy plan.

Chiefs have outlined their support for the EU’s aim to phase out dependence on Russian gas, oil and coal as a significant step towards stabilising the present energy security and price crises.

Leaders of the consortium which includes Microsoft, Unilever, H&M Group, Signify and Iberdrola have urged the EU to see the present crises as further reason to act in alignment with the Paris Agreement and to accelerate a clean domestic energy strategy as part of the green transition.

The letter states: “At the core of the current energy security and price crises sits an overdependence on volatile, imported fossil gas, oil and coal.

“It is time for all of us to take the necessary steps to strengthen Europe’s energy security and resilience by accelerating the green transition.

“Measures taken in response to the invasion of Ukraine must prioritise structural and just solutions that can deliver on the green and digital transition and respond to the level of emergency that we face.”

Eric Rondolat, Chief Executive Officer of Signify, said: “Reducing energy consumption by scaling up energy efficiency in buildings and cities should be at the heart of the EU’s strategy to reduce both energy dependency from Russia and achieve its climate objectives and, as such, be one of the cornerstones of the upcoming RePowerEU Plan.”

Ignacio S. Galán, Chairman and Chief Executive Officer of Iberdrola, said: “The current context demonstrates the need to accelerate the energy transition to guarantee a sustainable, robust and fair economy.

“The structural solution is clear: accelerating the implementation of “Fit for 55” while firmly supporting renewable energy, efficient storage and smart networks to avoid future shocks, promote a self-sufficient energy system and reduce emissions.”


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