The need for recovery of the EU economy from the Covid-19 crisis does not change the ultimate climate objective. The energy, industrial and mobility transitions, though, will be more challenging.
We believe that the implementation of the European Recovery Plan should support the transition to a climate neutrality by considering multiple energy technologies, including those based on clean or renewable molecular forms. Molecular energy, in liquid or gaseous forms, is necessary to provide our energy system with resilience and flexibility. We also believe that our industry, working together with many other stakeholders, can play a critical, leading role in bringing these forward at scale.
Welcoming the Recovery Plan published by the European Commission on the 27th of May 2020, FuelsEurope called for a climate-neutral, resilient and socially just economy through its position paper on the response from the refineries industry to the EU Recover Plan, issued on the 3rd of June 2020. In fact, it is clear that there will not be a return to business as usual for the fuels industry. As well as a move to lower carbon intensity fuels, through investment in new technologies, there will also likely be a lowering of the overall consumption of the different types of liquid fuels in the EU. As this has many implications for businesses and stakeholders including employees, support and services industries, the towns and communities around them, it would be essential to support a socially “just transition” dedicated to the EU refining and marketing industry.
With that in mind, FuelsEurope stands ready to enhance its collaboration with policymakers, its value chains and partners to create the right conditions and the enabling policy framework to unlock major scale investments in low-carbon technologies.