Börsen-Zeitung : Trump must not derail the energy transition
Europe Accelerates Its Energy Transition Despite Global Challenges
Despite questionable decisions by the current U.S. administration and limited local fossil fuel resources, Europe is compelled to speed up its energy transition. The process, still in its early stages, involves a long-term shift toward massive electrification of energy use.
Donald Trump’s pro-fossil fuel policies, including withdrawing from the Paris Agreement, highlight the contrast with Europe’s sustained efforts. The EU remains dependent on imports for oil and gas but has made significant progress: coal is nearly eliminated, and hydrocarbon consumption is gradually declining.
Europe’s energy strategy has evolved steadily over the past two decades, from the introduction of the EU Emissions Trading System in 2005 to the Green Deal in 2019 targeting carbon neutrality by 2050. The war in Ukraine in 2022 further accelerated initiatives like the REPowerEU plan, mobilizing €210 billion to modernize infrastructure, promote innovation, and reduce reliance on Russian energy.
Renewables are now leading electricity production, with solar, wind, and hydro accounting for record shares of Europe’s energy mix. Germany, for instance, generated 55% of its electricity from renewables in 2023. Long-term success will depend on continuing electrification, strategic national plans, and selective investment aligned with market needs.
The EU must ensure that new priorities, including defense spending amid geopolitical tensions, do not undermine the climate transition. The path is challenging, but Europe remains committed to combining energy independence with sustainability.