How the war in Ukraine could speed up the transition to a greener European economy
As Europe tries to adjust to the impact of Covid, it now finds itself with a war on its doorstep, further underscoring the need for recovery based on creating a green economy.
On the one hand, measures to revitalize the economy following the pandemic point to the conversion of the largely coal-based energy infrastructures of Eastern European countries such as Bulgaria, the Czech Republic, Poland and Romania to renewable energies, something that could unlock an estimated €54 billion in investments and create some 45,000 jobs.
On the other hand, Russia’s invasion of Ukraine makes it an absolute priority to reduce Europe’s dependence on coal, oil and gas from Russia, finally recognized as an undesirable partner likely to continue destabilizing the energy landscape. The paradox is obvious: it has taken a major humanitarian catastrophe for Europe to consider measures that may end up being the key to complying with the Paris Agreement, which is fundamental for the future.
To what extent has the war in Ukraine accelerated the transformation of the European energy grid? There are a number of signs. The Netherlands has just announced a plan to double its offshore wind power generation capacity by 2030. France has just ended subsidies for gas boilers and is now…
