The second day of the EU Industry Days event saw a number of panels looking into the future sustainability of renewable energy, the twins transition and the future of the EU's single market as well as indicating a future for reforms.
Baker & Timmermans, EU Industry Days 2021
Photo: European Commission
The day's events were proceeded by an interview with the European Commission's executive vice president Frans Timmermans describing the EU's race to its 2050 climate goals within the context of a post-Covid environment.
Read more: #EUIndustryDays rundown: Day One
"The pandemic did not diminish people's sense of urgency where the climate is concerned," he told Jennifer Baker, Master of Ceremony.
"The need for the transformation of our economy was already there. The pandemic exacerbated that as there's no longer a choice. We have to make sure but we have to be sure to rebuild right.
"We have to make sure we don't push assets in places they are not needed. We have to push the industry to make our economy more sustainable."
The first major panel for the second day of the EU Industry Days Event saw a plenary session discussing the lessons learned from the Covid pandemic regarding innovation and reliance in the face of the Covid pandemic and how businesses can better prepare for similar situations.
The panel interviewed a number of key players and analysts from various industrial sectors to lay out how their businesses and industry as a whole learned from the pandemic.
Many of the panellists saw the crisis as an overall positive owing to the slew of new technologies which came to the forefront with the rise of mobile working and increased digitalisation.
Antti Vasara, of Finnish firm VTT, said: “When the crisis hit, every R&D firm were thinking: ‘well, what does this mean?’ I think the overall effect has been positive for innovation.
"We need to keep our eye on the ball for innovation. Investing in innovation is important and companies. Some sectors are struggling to meet demand, but others have seen a boom with the pandemic.”
“Research and innovation really bring hope during a crisis. This is how Europe will bring long-term and healthy sustainable growth.”
A panel on how the aviation sector will achieve net-neutrality by 2050 was delivered by Axel Krein of Clean Sky.
He highlighted the importance of implementing technologies as soon as possible in order to meet the climate goals in line with the Paris Climate Agreement.
He said: “The road to sustainable aviation is neither straight nor simple. It has led to the implementation of new designs and models for aircraft, increased use of hybrid-electric and fully-electric aircraft as well as looking into green hydrogen and synthetic biofuels.
The second string of panels dealt with experts from various sectors bringing in their ideas to increase the EU single markets efficacy for information, investment and innovation. Three panels were held within the same timeframe.
The three panels saw experts from the European Innovation Council gave an overview of the work they do in collaboration with large businesses and start-ups, European officials promoting a new digitalisation initiative: the Single Digital Gateway and a meeting of partners under the EU's Pact for Skills Initiative.
These project all hopes to utilise the EU's single-market for differing reasons related to the digital transformation.
The fourth panel took a wide-angled look at industrial alliances and in what ways they can achieve key EU policy objectives from the green and digital transitions.
Industrial alliances have already delivered benefits in the battery and circular plastics sectors. Building on this, the Commission launched the European Clean Hydrogen Alliance and the European Raw Materials Alliance last year.
A panel at the same time saw major energy players from across Europe discuss the twin transitions, including difficulties with potential new technologies that could transform the European energy industrial sector.
Read more: Major European players convene to lay out industrial energy transition
A further series of four panels looked at the future of the EU and its energy transition through four different angles.
The first looked at unlocking the full potential of renewables through EU industrial policy; the second looked at accelerating industrial transformation and workers' skill development through worker co-ops; the third looked into methods of decarbonising industry value chains within the purview of green agriculture; and the fourth looked at defining the potential of digital for sustainability, innovation and recovery.
Read more: Plastics industry financiers under scrutiny as pollution concerns rise
The day finished with a speech by European Investment Bank (EIB) President Dr Werner Hoyer on how the twin transitions will be financed.
Dr Hoyer's language reflected the gravity of the situation, though kept a note of reassurance that things are being done.
“This is our last chance to avert a climate catastrophe," he said, before discussing the costs of the transition.
He went on to mention ways in which the EIB's Climate Bank was aiding the transition including a range of financial instruments, new norms and principles for sustainable banking practice and an end to the financing of fossil fuel projects.
Hoyer finished the day on a hopeful note but with plenty left for us all to chew over. "The rise of green finance is ultimately good news," he said, adding: "The road ahead will be hard but let me be clear, there is no alternative."
For additional information regarding each panel, please consult our live blog of the event.
Back to Homepage
Back to Politics & Economics
Back to Technology & Innovation