00:00 Hello and welcome to the highlights of our latest Euronews debate asking how to electrify Europe.
00:05 After the EU elections in June, Europe will need to oversee a radical rollout of clean energy
00:11 if it wants to meet its carbon emissions goals. So how is it going to be done?
00:15 If I look at where we stand as the EU, I think our climate ambitions are real
00:23 and I think one of the major issues should be in the next term, how can we accelerate?
00:28 How can we create funds, investments, start co-investing with industry to make sure that not
00:35 when will we, whether we will meet the climate targets, but more when will we meet them?
00:41 Are there genuine concerns about populist parties that don't like many of the, well,
00:47 this call for acceleration and speed that Mohamed is talking about?
00:50 I don't think there are big risks there because a lot of the, even if the geopolitics has changed a bit
00:55 and the motivations might change in emphasis, a lot of the things we actually have on the ground
01:00 in terms of implementation are going to deliver in terms of security and resilience
01:06 and in terms of international competition and so on.
01:08 So they're actually hitting the right buttons for whatever type of parliament comes out.
01:11 We have had a very difficult crisis right now. I think it is an obvious element that investments
01:18 have been on standby in a moment in which we need the acceleration of renewables.
01:25 Standby on investments? That doesn't sound particularly good, does it?
01:28 At the height of the crisis, we really saw when investments nosedive because there was so much uncertainty
01:34 with what national governments were going to do about soaring electricity prices, right?
01:39 We're seeing things pick up now.
01:41 Investors are there, that what they need is an environment in which they are confident with their investments.
01:47 What's the risk that we do run at the moment with the elections that are coming up
01:51 that some of those Green Deal laws, some of the rules that have been set down will get revised?
01:59 I believe that we have started a movement also with industry that some of the goals will be met
02:05 whether there is a progressive or conservative majority in this house. Why?
02:09 Because it's called technology, innovation, development.
02:13 Once certain technologies get below a certain cost, then people will invest in them because they will make money,
02:20 not because they care about climate or about energy transition. It's just an opportunity.
02:24 And I think that we have right now the real proof of the cost that it produces
02:29 when we are not developing our own autonomous energy sources.
02:34 We have had a crisis in which you were talking about what happens when there's no wind and no sun.
02:39 We have experienced what happens when there's no gas.
02:42 For all the reasons that colleagues have said, there isn't simply a matter of going back.
02:45 Going back to something as mythical as cheap, secure fossil fuels just isn't on the cards anymore.
02:51 It was a fascinating conversation and you can watch the full debate and further highlights on Euronews.com.
02:56 (upbeat music)
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