"An unprecedented technological transformation"
The Minister of State for Climate Change, Teresa Ribera, highlighted during her address at the working breakfast organised this morning by the Spanish Confederation of Directors and Executives that the fight against climate change will require an unprecedented technological transformation of our production and consumption patterns.
The Minister of State pointed out that sectors such as energy and water will be vital to this transformation and recalled that the International Energy Agency has estimated that investment needs amount to 40% of investment in global infrastructure or 1.4% of world GDP.
Teresa Ribera said that renewable energies will play a fundamental role in the energy sector while second generation biofuels and electric vehicles will be key technologies in the transport sector.
With regard to investment needs, Teresa Ribera explained that in the short and medium term we have enough technology to enable us to follow the right emissions path in coming years. However, the Minister of State considers that in the long term new technologies must be promoted through decisive action today in R&D&I in order to accelerate their implementation after 2020.
In this respect, Teresa Ribera underlined that the shift in the growth model towards a low carbon one will give rise to enormous business, investment and innovation opportunities. For this reason, she emphasised that Spain should take advantage of the privileged position she currently enjoys in sectors such as renewables, in view of the imminent emergence of a market with great possibilities.
Finally, the Minister of State concluded that governments have an essential role to play in establishing appropriate market rules and acting as catalysts for private investment from different public resources. Companies must take advantage of the opportunities that this new future holds by continuously improving their competitiveness and productivity and acting in a responsible way. She added that an integrated approach is needed with greater support for R&D&I, definition of technological “route maps”, greater international cooperation and greater collaboration between public and private sector partnerships.
The Minister of State pointed out that sectors such as energy and water will be vital to this transformation and recalled that the International Energy Agency has estimated that investment needs amount to 40% of investment in global infrastructure or 1.4% of world GDP.
Teresa Ribera said that renewable energies will play a fundamental role in the energy sector while second generation biofuels and electric vehicles will be key technologies in the transport sector.
With regard to investment needs, Teresa Ribera explained that in the short and medium term we have enough technology to enable us to follow the right emissions path in coming years. However, the Minister of State considers that in the long term new technologies must be promoted through decisive action today in R&D&I in order to accelerate their implementation after 2020.
In this respect, Teresa Ribera underlined that the shift in the growth model towards a low carbon one will give rise to enormous business, investment and innovation opportunities. For this reason, she emphasised that Spain should take advantage of the privileged position she currently enjoys in sectors such as renewables, in view of the imminent emergence of a market with great possibilities.
Finally, the Minister of State concluded that governments have an essential role to play in establishing appropriate market rules and acting as catalysts for private investment from different public resources. Companies must take advantage of the opportunities that this new future holds by continuously improving their competitiveness and productivity and acting in a responsible way. She added that an integrated approach is needed with greater support for R&D&I, definition of technological “route maps”, greater international cooperation and greater collaboration between public and private sector partnerships.
SPANISH STRATEGY
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