CUNEF Universidad holds a roundtable discussion on “Climate change, energy security and the European Green Deal”

Last Wednesday, 20 November, the Auditorium of the Almansa Campus hosted a roundtable discussion on “Climate change, energy security and the European Green Deal”. The session was chaired by Miguel Almunia, the Director of the Department of Economics at CUNEF Universidad, and included the participation of Achim Wambach, President of the ZEW – Leibniz Centre for European Economic Research, and María Teresa Nonay, Director of Strategy & Planning at Enagás. During the discussion, the speakers highlighted some key ideas:

• Fossil fuels provide 70% of the energy we use but, given that climate change is already a global problem, they must disappear from the energy mix.
• The design of the future energy market has generated an intense debate among EU Member States. Germany, for one, is considering dividing the electricity market into price zones or boosting investment in renewable energies to achieve more competitive prices.
• Spain is among the net energy importers, but it could become a green energy exporter, particularly hydrogen. To do this, it must approach this process with a medium- and long-term vision.
• Green hydrogen (synthesized using renewable energies) is a key energy vector to achieve European decarbonization objectives, which include  a 55% reduction in emissions by 2030 (Fit for 55) and carbon neutrality by 2050 (European Green Deal).
• Energy transition is both a challenge and an opportunity, because investment in new vectors implies the creation of new companies and economic growth. To achieve this, current competitive issues must be solved.
• Europe must continue to work towards a common energy market, while it contributes to the improvement of climate policies worldwide. Some European solutions, such as hydrogen production, may prove beneficial to other countries, such as India.

The session was attended by more than 50 students from the School of Business, Economics and Law of CUNEF Universidad.