Energy ministers discuss recovery and EU’s growth strategy – Finland stresses broad-based investments in new technologies

At the informal meeting on 15 June 2020, the EU energy ministers will discuss the recovery of Europe and the European Green Deal, with particular focus on the transformation of energy systems and economic growth. Finland’s representative at the video meeting will be Minister of Economic Affairs Mika Lintilä.

Finland supports the ambitious climate policy described in the European Green Deal that strengthens the integration of climate perspectives into all key sectors. To achieve the objectives of the European Green Deal, considerable investments are needed and contributions from both the public and private sector are required to finance these. Finland stresses digitalisation, new technologies and automation as key steps towards reaching the climate objectives.

The coronavirus crisis has had serious and far-reaching impacts on the EU’s economy, and especially on the energy sector. Croatia that now holds the Presidency of the Council of the EU estimates that the negative economic impacts of the crisis will continue into the following year and energy transition may be delayed without recovery measures to be taken by the EU.

In the background paper Croatia requests information on the investments in energy technology planned by Member States to reach the EU’s targets to 2030 and to ensure energy transition within the next few years.

“Finnish companies in many different sectors are considering investments in clean, low-carbon solutions that produce energy to the consumers in a way that is cost-effective while also promoting competitiveness. The different industry sectors and individual companies have assumed a very active role in planning and investments that aim for a carbon-neutral future,” Minister Lintilä says.

Such investments include projects that are related to emission-free energy production, power-to-X solutions, energy efficiency, digital energy solutions, and R&D activities concerning new technologies.

Investments in networks are also important for promoting smart sector integration. Finland considers that the focus should be on all low-carbon technologies. Besides the other technologies, in terms of reaching the climate targets there is great potential in giving up the use of coal for energy and using clean hydrogen.

At the meeting, the European Commission will also tell about the state of play of the National Energy and Climate Plans and about its updated work programme. Germany will present the work programme for its Presidency of the Council of the EU that will start on 1 July 2020.

Finland considers that the National Energy and Climate Plans provide a solid framework for energy policy planning. Through these, the EU can secure a stable environment for the necessary investments and better coordination of the rules and regulations that influence the energy sector in various ways.

Inquiries:
Riku Huttunen, Director-General, Ministry of Economic Affairs and Employment, tel. +358 50 431 6518
Nina Alatalo, Adviser to the Minister of Economic Affairs (EU and International Affairs), Ministry of Economic Affairs and Employment, tel. +358 50 431 8015
Eero Karjalainen, Specialist, Ministry of Economic Affairs and Employment, tel. +358 50 501 7746
Sanna Ek-Husson, Senior Specialist, Permanent Representation of Finland to the EU, Brussels, tel. +32 470 206 178