Europe’s Green Deal is such a vital part of showing we can create the virtuous circle of a profound transformation of our economy without fracturing our societies, even on the scale of a continent of 500 million inhabitants.
First of all, one issue set to gain credibility is industry. With many solutions already available to us, we are accelerating to solve the remaining problems, such as continuing to lower the cost of storing energy from renewables or finding ways to make green hydrogen on a large scale. The increase in the price of carbon, which will quickly reach 50/60 euros per ton of CO2 after having broken its record at over 40 euros per ton in early 2021, will accelerate this technological transformation. It will also facilitate the third industrial revolution towards a zero-carbon industry. And Europe is the continent with the highest number of green patents in the world. It is, therefore, in our economic interest to move in this direction.