EU Competitiveness Council Meets at MOL Group HQ to Drive Green Energy Transition

EU Competitiveness Council Meets at MOL Group HQ to Drive Green Energy Transition

(IN BRIEF) Under the Hungarian EU Presidency, the Competitiveness Council gathered at MOL Group’s headquarters to discuss Europe’s industrial competitiveness amidst the green energy transition. Key stakeholders emphasized the need for collaborative policymaking and a supportive regulatory environment. Zoltán Áldott of MOL Group highlighted the company’s commitment to sustainability, showcasing innovations like green hydrogen and plastic recycling. The event also addressed concerns raised in the “Antwerp Declaration,” aiming to align EU policies with industrial competitiveness.

(PRESS RELEASE) BUDAPEST, 9-Jul-2024 — /EuropaWire/ — Under the Hungarian presidency of the Council of the European Union, the inaugural informal meeting of the Competitiveness Council convened at MOL Group’s headquarters, marking a significant milestone in EU policy discussions. Ministers and state secretaries responsible for competitiveness from across member states gathered at MOL Campus to address Europe’s industrial challenges amid the green energy transition. Stakeholders underscored the critical need for collaboration and a supportive regulatory environment to sustain Europe’s global competitiveness. The event featured addresses by Zoltán Áldott, Chairman of the Supervisory Board of MOL Group, and Marco Mensink, Director General of CEFIC, highlighting strategic imperatives for industry-policy cooperation. Post-meeting, participants engaged in an interactive exhibition showcasing MOL Group’s advancements in sustainable technologies, including green hydrogen, biogas, and plastic recycling, underscoring their commitment to environmental stewardship and innovation.

The gathering, part of Hungary’s EU Presidency program, focused on enhancing Europe’s competitiveness and fostering a conducive environment for industrial growth. Concerns raised by European industrial leaders earlier this year underscored the urgency for competitive policies amidst the green energy transition, as articulated in the “Antwerp Declaration.” Signed by over 1,200 organizations, this initiative aims to align EU climate and energy policies with industrial competitiveness, ensuring a balanced approach to regulatory frameworks. The event culminated in a showcase of MOL Group’s pioneering efforts in sustainable practices, reinforcing their role in shaping Europe’s energy future through technological innovation and strategic partnerships.

5 points of European industrial development

  1. A new industrial and regulatory framework is needed: change cannot be achieved with target numbers, but with positive business incentives.
  2. An honest and in-depth analysis of the real impact of EU climate and energy policy on European competitiveness and the investment environment is needed.
  3. The success of the energy transition depends on regulatory certainty, reduction of administrative burdens and openness to cost-effective sustainable technologies, and risk mitigation systems must be made available to innovative projects.
  4. A corrective measure should be introduced in order to take regional specificities into account and to reduce regulatory burdens and policy incoherence.
  5. In order to ease the burden on energy-intensive industries and increase the resources available for the transition, the revenues from the Emissions Trading System (ETS) should be used for the industrial transformation of the affected sectors.

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