The EU, like many other regions in the world, is currently experiencing a sharp rise in energy prices. This is principally driven by increased global demand for energy, and in particular gas. The European Commission has been consulting widely on the appropriate response to the current situation and has participated in debates with Members of the European Parliament and Ministers in the Council of the European Union, while also reaching out to industry and to international energy suppliers.
Consequently, on the 13th of October a Communication on Energy Prices was adopted to tackle the alarming rise in energy prices, help consumers and businesses. The Communication includes a “toolbox” that the EU can use to address the price impact, which sets out measures to ensure that the European Green Deal will be delivered. The measures anticipate i) state aid for affected companies, ii) targeted tax reductions, iii) investments in renewable energy and energy efficiency, iv) examination of possible energy storage and v) purchase of gas reserves. Energy storage is becoming key for the EU power sector and its sustainability.
The EU will continue to develop an efficient energy system, which will include a high share of renewable energy. Investments in renewable energy will not only reduce dependence on imported fossil fuels, but also provide more affordable wholesale energy prices that are more resilient to global supply constraints. Innovation is also an important component to ensure a resilient EU energy system, although Europe is a leader in sustainable energy start-ups with pioneering solutions.
The energy crisis is an opportunity for ESG to spread its wings, with sustainable investing being the best option for investors. It’s becoming increasingly clear that the best way to resolve this and avert future energy crises, is to accelerate the transition towards cleaner power, which will minimize price surges.
ESG investing could accelerate the transition from fossil fuels, which could prove to be the long-term answer to energy crises. Savvy investors ought to be taking a wider, long-term look at the situation, foreseeing the rewards of sustainable investing.
In December, CSE’S European Certified Sustainability (ESG) Practitioner Program – Digital Version, will tackle such energy and climate change issues and will address the transition to a more resilient future.
The Program is joined by Business leaders and C-suite executives in corporate responsibility, sustainability, ESG, marketing, and investors’ relations who want to be equipped with updated knowledge and modern practical tools to manage forthcoming energy crises and achieve resilience for their business.
Registrations are on the rise! Book your place on time.
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