Europe must invest more quickly and massively in its energy transition if it wants to remain a global industrial power, top policymakers warned on Friday.
The leaders said private sector investment faces barriers including policy uncertainty, bureaucratic red tape that delays projects, and higher energy costs. Friday's conference focused on the financial and public policy tools that could unleash the investments needed for the clean energy transition. Werner Hoyer, president of the European Investment Bank, said industries"must be prompt and embrace change, or risk being left behind".
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