EU Risks Falling Behind in Green Tech Race
The European Union is struggling to keep pace in the global green technology race, raising concerns over its ability to meet climate targets and maintain competitiveness. At the EU Energy Summit on April 7, European Commissioner for Startups, Research and Innovation Ekaterina Zaharieva warned that the EU’s manufacturing capacity in key green technologies is lagging, CE Report quotes Agerpres
High energy prices, labor shortages, and supply chain dependencies are slowing progress, according to a new EU competitiveness report. Zaharieva noted that despite strong public investment and the EU accounting for 22% of global green tech patents, private investment remains insufficient.
There are growing concerns about a fragmented investment approach across the bloc. Germany and France alone represent 45% of net-zero investment, while countries like Bulgaria and Slovenia are making strides. Bulgaria plans a €15 million hydrogen production center in Stara Zagora, and Slovenia is investing over €200 million in its auto supply sector to drive clean mobility.
The EU’s Clean Industrial Deal, launched in February, aims to mobilize over €100 billion for green manufacturing and reduce emissions by 90% by 2040. However, critics argue it lacks sufficient financial commitment and may weaken environmental standards.
Amid record-breaking extreme weather and warnings that Europe is the fastest-warming continent, leaders urge faster action. As UN Secretary-General António Guterres said, “Renewables are renewing economies,” pointing to the growing job market in clean energy sectors across Europe.
