Energetica India nº91 July August 2020

sectors and specific renewables-related measures that could deliver on this high- er ambition. E nergetica I ndia : Please tell our readers about The European Green Deal. How does it aim to transform the EU econ- omy into a sustainable economy? K adri S imson : The European Green Deal is a comprehensive roadmap for mak- ing the EU’s economy sustainable by turning climate and environmental chal- lenges into opportunities across all pol- icy areas and making the transition just and inclusive for all Europeans. It is the new growth strategy of the EU, a path to transform our way of living and work- ing, of producing and consuming so that we live healthier and make our busi- nesses more innovative. By doing this, we are committed to becoming the first climate-neutral continent by 2050 – this means that our greenhouse gas emis- sions should not exceed the emissions we absorb. The Green Deal consists of actions aimed at boosting the efficient use of resources by moving to a clean, circu- lar economy that will combat climate change, revert biodiversity loss, and cut pollution levels. It covers all sectors of the economy, notably transport, energy, agriculture, buildings, and industries such as steel, cement, ICT, textiles, and chemicals. Meeting the objectives of the Europe - an Green Deal will require significant investment, estimated at €260 billion of additional annual investment, represent- ing about 1.5% of 2018 GDP. To reach this goal, a Sustainable Europe Invest- ment Plan has been presented and at least 25% of the EU’s long-term budget should be dedicated to climate action, with the European Investment Bank, Eu- rope’s climate bank, providing further support. Finally, the Deal includes a Just Transition Mechanism that will support those regions that rely heavily on very carbon-intensive activities and will help those citizens most vulnerable to the transition, providing access to reskilling programmes and employment opportu- nities in new economic sectors. E nergetica I ndia : The EU is today a frontrunner on renewable energy and has taken substantial measures to boost market uptake. In your view, how important is accessibility and af- fordability in reaching to the end- user? K adri S imson : For us in the EU, the key issue is placing consumers at the centre of the energy system. Clear and easily accessible information is essential to enable citizens to change energy con- sumption patterns and switch to renew- able solutions that support an integrat- ed energy system. Customers – citizens and businesses alike – should be in- formed on their rights, on the technol- ogy options available to them and their associated carbon and environmental footprint, so they can make informed choices, be motivated to use renew- able energy, and truly drive decarbon- ization. It is important that vulnerable households are not left behind and en- ergy poverty is addressed. Furthermore, some markets for sustainable products and services are still missing, for in- stance for products such as steel, ce- ment, and chemicals produced with re- newable or low-carbon fuels. To improve the sustainability of such intermediary products, consumers should receive relevant information that may encourage them to pay a price premium and switch to a more renewable-centered energy consumption mode. E nergetica I ndia : EU is set to make a big push for hydrogen. How does the Eu- ropean Commission plan to increase domestic production to enable rapid upscaling? K adri S imson : In an integrated energy system, hydrogen could become a ma- jor protagonist in the decarbonization of industry, transport, power generation, and buildings across Europe. On 8 July 2020, the European Commission pre- sented a new EU Hydrogen Strategy that addresses how to transform this poten- tial into reality, through investments, reg- ulation, market creation, and research and innovation. We believe that hydro- gen has the potential to power sectors that are not suitable for electrification and provide storage to balance variable renewable energy flows. This can only be achieved with a coordinated action between the public and private sec- tors, to develop renewable hydrogen, produced using mainly wind and solar energy. In the short and medium-term, however, other forms of low-carbon hy- drogen are needed to rapidly reduce emissions and support the development of a viable market. From 2020 to 2024, our aim is the installation of at least 6 gigawatts of renewable hydrogen elec- energetica INDIA- July-Aug_2020 23 INTERVIEW