Paris: 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 plea was made at a conference on the clean energy transition hosted by the International Energy Agency, the European Central Bank and the European Investment Bank in Paris.The leaders said private sector investment faces barriers including policy uncertainty, bureaucratic red tape that delays projects, and higher energy costs. At the same time, the United States, China, India, Japan and South Korea are deploying ambitious industrial programmes, they warned.
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