Fabian Demicoli

Europe should emphasise more on creating investment incentives for the development of the Energy Sec

 Vincent Farrugia, GRTU's Director General and Employers representative at the EESC made this week a strong intervention at the EESC's Transport, Energy, Infrastructure and Information Society (TEN) Section on the EESC Draft Opinion TEN/474 on Energy Education.

Mr Farrugia argued for a rebalance of funding needed for research and development. Emphasizing on education, though extremely important, may deviate from the urgent need to find the trillions that are needed not only to change behaviors but more especially the financial commitments to finance the extensive programme of research and investment that is needed even much so in alternative resources and in building of new infrastructure.

Europe is still doing little and in the meantime trillions of investments are leaving Europe as the strategy is still one of impositions of the energy industry rather then on creation of new initiatives and incentives to encourage investors and the financial institutions to provide the trillions that are needed to make a real difference. We need to encourage investment in a credible strategy towards the removal of the clear physical and environmental constraints that are effecting development in the energy sector and engaged economic growth within acceptable environmental standards.

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