According to a Community Paper elaborated by the World Economic Forum (2020), like all technology-led transitions, the energy transition will unleash significant creative destruction, create large new opportunities for wealth formation, and will ultimately lead to greater prosperity and major societal benefits.

According to the Union for the Mediterranean (UfM), the Mediterranean region faces significant energy challenges: increasing population of over 500 million inhabitants with growing energy demands; warming 20% faster than the global average; intensive industrialization and tourism growth putting pressure on available energy resources.

The World Economic Forum states that a major energy transition is under way, creating opportunities while increasing uncertainty and developing the need to ensure sustainability, affordability, inclusiveness and security. The definition of potential actions to positively shape related developments, and contribute to incubating relevant projects in the region is a priority.

The European Strategic Energy Technology Plan (SET Plan) has been elaborated by the European Commission is a key stepping-stone to boost the transition towards a climate neutral energy system through the development of low-carbon technologies in a fast and cost-competitive way.

The EC believes that by improving new technologies and bringing down costs through coordinated national and regional research efforts, the SET Plan helps promote cooperation among EU countries, companies and Education & research institutions.

Many concepts emerged and R&D on Energy Technologies becomes the main focus of the Mediterranean Countries.

The International Renewable Energy Agency (ARENA) focused on the development of the Smart Renewable Cities (SRCs) concept and its potential to foster economic growth as renewables are competitive with conventional sources and conducive to job creation and innovation. SRCs can promote sustainability through renewable-powered buildings and electric mobility.

The European Green Deal is the European plan to turning climate and environmental challenges into opportunities, and making the transition just and inclusive.

Alongside the European Green Deal and the 2030 Climate Target Plan and its Impact Assessment, the Commission has also adopted an assessment of Member States' National Energy and Climate Plans for 2021-2030. The Assessment shows that the EU and Mediterranean Countries are on track to surpass its current 2030 emissions reduction target of at least 40%, in particular thanks to ongoing progress in deploying renewable energy across the Region.

With the outbreak of COVID-19, many opportunities appeared to rebuild with climate change as our centerpiece. The 2030 climate target will help to focus the Mediterranean economic recovery from the coronavirus pandemic. It will stimulate investments in a resource-efficient economy, promoting innovation in clean technology, fostering competitiveness and creating green jobs.

On their side, the International Renewable Energy Agency (IRENA) offered practical actions on key investment and policy decisions for the post-COVID recovery and how post-recovery measures are paramount to achieving the Sustainable Development Goals (SDGs) and the Paris Agreement on Climate Change.

BUSINESSMED and its members believe that Employers have a key role in addressing the energy transition in the Mediterranean and the green recovery by tackling new trends and technologies affecting the production of energy. Therefrom, the committee “Education and R&D on Energy Technologies” was created in the framework of EBSOMED Project.

In this sense, BUSINESSMED, in the framework of EBSOMED, is organising a webinar on 14 December 2020 in order to:

• present the commission’s mission and purpose of the study by giving insights into the Energy sector in the target countries and challenges ahead
• present the first results of the study and the factsheet elaborated following the research phase
• share information on how national and regional energy transitions can help to build resilient economies in the Euro-Mediterranean Region
• explore best practices on bringing innovative energy technologies and solutions faster to Mediterranean market
• learn more on R&D in clean technologies in partner countries of the Committee and ways to benefit from the Green Deal

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Registration is available via this link.