“Intelligent management of structural change”

Europe’s most important industries should get more support for innovation to cope with structural change, Germany’s trade union for the mining, chemicals and energy industries (IG BCE) says in a press release. “We’re picturing a future fund,” for example for the energy and mobility industries, IG BCE’s chairman Michael Vassiliadis says. The fund would give investment support to companies seeking to unlock new business opportunities, IG BCE says. Vassiliadis called for subsidising high-end technology projects such as artificial photosynthesis and power-to-x technologies. Billions of euros are being spent on supporting renewable energies “that fluctuate strongly with the weather und have little further potential for innovation,” Vassiliadis says. Europe instead should focus on “thinking about alternatives for the ‘alternatives’”.

Read the press release in German here.

For background, see the CLEW factsheet How can Germany keep the lights on in a renewable energy future?.