There is a Risk of Industry Relocating
14 / 07 / 2022
Karel Voldřich, Head of Industry Decarbonisation of the International Sustainable Finance Centre talked with the Czech Echo24 about decarbonization of hard to abate industries. The interview explores the repercussions of the RePowerEU plan and the EU Green Deal, including the currently available decarbonisation such as carbon capture and storage (CCS) technology. the repercussions of the RePowerEU plan and the EU Green Deal and decarbonization options on the table such as the carbon capture and storage technology.
„There is a real risk of industry moving to other regions” and what is more, estimated cost of the required transition „in some cases may reach the equivalent of 30 years of annual profits“. That builds a case for stronger state financial support. Decarbonisation without public funding could prove too slow to fulfil the 2030 objectives.
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