That’s the verdict from Hanno Schoklitsch, CEO and Founder of Kaiserwetter, who told future Net Zero founder Sumit Bose about the urgency of harnessing a “growing appetite” to build back greener in the UK and Europe following the coronavirus pandemic and get the economy back on track in a more sustainable way.
He stressed: “We really have to create an environment which is forced to invest, it’s not just the capital which will show us the way forward – of course we need a clear way forward, we need clear regulations and we need things in place like the EU, taxonomy, regulations, to make the money and investments be done the right way to get to the goal, if not, if we leave it to the decision of the capital itself, I think we would fail.”
Suggesting a convenient and non-bureaucratic monitoring system needs to be put into place to work towards net zero internationally, the energy boss said global stimulus strategies to recover from the pandemic and strengthen industries need to help support both the green economies and digital economies, but warned it was vital not to forget the issue of tackling climate change at its roots.
He added: “We have to build back and we have to put things in place to make the transition happen now, using of course this recovery programme, we will definitely push our green change ahead.”
Mr Schoklitsch said the fact continued private capital is “flying in” to the sector is great news, but noted business investment still needs to be guaranteed a certain return to encourage prolonged commitment on the journey towards 2050 – to direct this capital and drive decarbonisation through the whole economy and industry, he argued there needs to be a guiding force of rules and regulations to ensure all sectors have a sincere and effective net zero approach long into the future.
The importance of lasting commitment in order to fully realise and commercialise technologies was another issue discussed, with green hydrogen being cited as an example of the need for a market approach to bring returns on investments while helping to fund more work to increase its economic and technological viability.
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