Going Green

Tuesday, 12 January 2010

Clean energy and low environmental impact

The latest EU estimate shows that Europe will spend an extra €50bn on developing new technologies over the next 10 years.

Switching to a low-carbon emission economy

To fulfill the good intentions of the EU energy and climate policy goals, the private sector must improve substantially its current insignificant commitment to green bsuiness. Due to priviliged access to advanced low-carbon trechnologies, only big market participants undertake investments in green programs and initiatives.

In the commercial vehicles sector, for example, the MAN Group (the German giant in truck and bus production) has just entered into a loan contract with the European Investment Bank(EIB). According to the bank, the €300m investment will be used for "the development and lauching of reduced emission and fuel-efficient powertrains for trucks and buses". In 2010, the automotive sector is also expected to make some steps forward regarding the reduction of CO2 emissions.

However, not everyone is going crazy about green technology. Despite the substantial business opportunities, some sectors such as construction, do not make the most of the available subsidies and EU projects. For example, construction companeis can participate in the North Seas' Countries Offshore Grid Initiative (a plan which involves nine countries aiming to create renewable energy installations in the North Sea) or the Smart Cities Initiatives. Unfortunately, few of them have ventured in this direction.

When industries go green, jobs will follow

The forthcoming new eco-friendly technologies are the future of business and industry. They will be gradually implemented and  included in company strategies from every field of the world economy. Stimulating proposals and decisions by the European institutions will further push the businesses on the way of green energy and production. These new capacities have the potential to create millions of jobs in the upcoming years. This is why it is a pity that the private sector under-uses these economy-boosting opportunities during the current financial and employment troubles.