Transformation Quarterly

By Dennis Meyer

It has become abundantly clear since Russia’s invasion of Ukraine and the sub­sequent energy crisis that the European Green Deal and the interim goals set down in the Fit-for-55 pact for climate friendly trans­formation of European industry and society are much more than just necessary measures to implement the Paris climate targets. They can also become a long-term geo-economic protective mechanism for European industry, which also guarantees the political sovereignty of the individual member states, for example when energy trading is instrumentalised for military or political purposes.

With this in mind, the new oil and gas supply contracts that many member states, including Germany, signed in 2022, should not disguise the fact that the EU will further intensify its climate-friendly trans­formation. But those who had hoped for a general loosening of what they see as regulatory thumb screws or a shift of dead­lines and mandatory targets are likely to be disappointed. With its REPowerEU programme in particular, the Commission closely dovetailed the green trans­formation of European industry with the fastest possible achieve­ment of independence from Russia. With new and more ambitious mandatory targets the transition to renewable energy is to be accelerated, for example, and the use of hydrogen to replace fossil fuels is to be intensified. Also, the approval and innovation processes are to become less complex and more efficient going forward according to the Commission’s plans.

The EU has stepped on the accelerator when it comes to the climate – this makes it all the more critical to companies’ success to convincingly communicate the contribution they are making to Europe’s climate-compliant trans­formation and (energy)-policy sovereignty and the additional measures they are willing to take.

Dennis Meyer works for H/Advisors Deekeling Arndt as a Senior Consultant in Public Affairs & Governmental Relations. As part of H/Advisors exchange programme he switched location for one month from our Berlin office to our partner agency PANTARHEI Corporate Advisors in Brussels.