European Commissioner: Industry must lead the way in global decarbonization efforts

European Commissioner for Climate Action, Wopke Hoekstra, emphasized the critical role of the industrial sector in driving the transition to decarbonization as he addressed the COP29 event.

Speaking at a panel discussion on the topic "Accelerating global industrial and energy decarbonization – a growth/economic modernization agenda", Hoekstra underscored that while nations can set policies and targets, it is ultimately the industry that must lead the way in ensuring a real shift to cleaner production processes, Caliber.Az reports.

“This is really a very important topic – decarbonization of our industry. Quite often we talk about what countries can do, but of course, ultimately, it is industry that has to ensure a real transition to cleaner production,” Hoekstra said, stressing the importance of industrial action in meeting climate goals.

Hoekstra outlined the European Union’s progress in reducing its emissions, noting that the EU has achieved a 37 per cent reduction in net emissions in recent years, with an 8 per cent decrease in just the past year alone. At the same time, the EU's GDP has grown by 68 per cent, illustrating that economic growth can go hand-in-hand with environmental progress.

The Commissioner highlighted the EU’s focus on the European Green Deal over the last five years, which has set legally binding targets to cut emissions by at least 55per cent by 2030, with the goal of achieving climate neutrality by 2050. Looking ahead, Hoekstra emphasized that the next five years will be crucial for the implementation of these targets, with a particular focus on investment in clean technologies.

“We are on the cusp of the start of a new political term, and the first hundred days will focus on exactly the topic we are discussing here: How to build bridges between climate action and economic policy,” Hoekstra explained. “We will do that by presenting a new Clean Industry Deal,” he added, referring to an initiative aimed at accelerating industrial decarbonization.

Hoekstra believes the EU's efforts to promote growth through decarbonization will include simplifying and speeding up the approval processes for clean technologies, attracting more private and public investment, improving workforce skills, incentivizing clean technologies, and making clean energy more affordable.

Governments, he said, must work closely with industry and workers to understand their needs during this transition period. “This is something we can't do alone. We need to engage with investors and create the conditions for deep industrial decarbonization,” he stressed.

He also noted that Europe will remain “open for business,” offering incentives to invest in the clean transition and creating better conditions for industry and investors in key sectors of the future economy. Hoekstra pointed out that the EU is committed to aligning its tax policies with its environmental policies to ensure that the transition to greener practices is financially rewarding.

While the EU accounts for only 6 per cent of global emissions, Hoekstra highlighted that 94 per cent of global emissions are generated outside the EU, underscoring the need for a global approach to tackling climate change.

By Vafa Guliyeva