ExxonMobil Global Land Fuels reposted this
Competitive. Pragmatic. Business-friendly. EU leaders included these words in the strategic agenda, the set of principles that will guide policymaking for the next five years. I’m happy to see the focus on boosting competitiveness, making Europe more business friendly, and reducing regulatory burden. It seems EU policymakers have listened to the concerns raised by business and industry leaders over the past few months. As the new European Commission forms and establishes its work programme, it must keep these priorities top-of-mind, particularly as it turns its focus towards implementing the #GreenDeal. It is also encouraging to see the agenda recognizes the role of ALL net-zero and low-carbon technologies in the energy transition. To meet the EU’s net zero 2050 ambitions, industry investments must increase significantly. My company, ExxonMobil, plans to spend $20 billion globally on lower-emission investments from 2022 through 2027. It will be difficult to spend part of these funds in Europe unless policymakers truly deliver on what is outlined in the strategic agenda. My team and I at ExxonMobil Europe look forward to working together with policymakers on a policy framework that nurtures innovation, drives investment, and secures the long-term competitiveness of European industry. #EUCO #IndustrialDeal