By Morten Wierod, Tom Erixon, Kim Fausing, Dominique Bossan, Jes Munk Hansen, Benoit Bazin, Olivier Blum, As Tempelman, Johnny Sjöström, Lars Petersson
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The opinions expressed in this article are those of the author and do not represent in any way the editorial position of Euronews.
Europe is living through a period of compounding shocks. Russia’s invasion of Ukraine exposed how deeply Europe’s security and economy depend on imported energy.
The conflicts in the Middle East have reinforced that lesson. Each crisis has triggered emergency fixes and short-term workarounds.
Europe has managed. Managing is not succeeding, however.
Europe’s strategic independence starts with energy
The moment calls for something bolder: an action plan that removes these vulnerabilities at their source. President von der Leyen and other leaders have been clear about the need for greater European strategic independence. We share that conviction and believe the path to it runs through energy.
A Europe that generates its own clean power, uses energy efficiently, and electrifies its industries and buildings is a Europe that controls its economic and political destiny.
Yet, a different narrative is being advanced: that climate and energy policies undermine competitiveness. From where we sit, the opposite is true. Competitiveness and decarbonisation are not trade-offs – they are mutually reinforcing.
The evidence is already visible. Thanks to efficiency gains over the past two decades, Europe’s energy consumption is around 30% lower than it would otherwise have been, while real GDP has grown by 27%.
More economic value is being generated with less energy.
Europe’s energy weakness is self-inflicted
As leaders of ten European-headquartered companies at the centre of the energy transition, we see this every day.
Together, we operate hundreds of factories across Europe and generate more than €150 billion in annual turnover – almost one percent of EU GDP. We build and power the infrastructure people depend on. We are not observers of the transition. We are delivering it – and investing heavily to make it succeed.
Europe’s vulnerability is not decarbonisation. It is wasted energy, dependence on imported fossil fuels, and delayed investment.
The solutions already exist and their power comes from deploying them together. Use less energy through greater efficiency. Shift demand to electricity. Produce that electricity from clean, domestic sources.
Done together, this lowers costs, strengthens resilience and keeps more value in Europe. That’s competitiveness.
The economic prize is enormous
New analysis shows that a sustained focus on efficiency, electrification and carbon pricing could cut European gas imports by 70% by 2040, while generating significant cost savings and better living standards for businesses and households. The economic prize is substantial.
But it will only be captured if Europe moves from policy to delivery.
The challenge is not strategy – it is execution. The framework is largely in place. Now Brussels and the 27 member states must move with speed, scale and consistency.
Our companies are making capital investment decisions today that will shape the bloc’s industrial competitiveness, employment and technological leadership for decades to come. What we need is confidence to allocate capital at the scale this moment requires.
Put electrification and efficiency first
That means fully implementing agreed legislation, such as the Buildings Directive. It means using Emissions Trading System revenues to accelerate industrial decarbonisation and scale breakthrough technologies – from fossil-free steel to electrified industrial processes.
And it means putting electrification and energy efficiency at the centre of industrial and energy policy, with clear long-term goals for 2040.
Political leaders cannot expect to control every crisis. But they can provide the stability and predictability that unlock investment.
Every home renovated, every grid modernised, every industrial process electrified, moves us closer to real energy sovereignty.
That is the Europe we are helping build. As the European Commission prepares to release its Electrification Action Plan and updated ETS (Emissions Trading System) proposals, we ask policymakers to press ahead with the urgency this moment demands.
The opinion piece was written by Morten Wierod, President and CEO of ABB Ltd; Tom Erixon, President and CEO of Alfa Laval; Kim Fausing, President and CEO of Danfoss; Dominique Bossan, President of Knauf Insulation, Knauf Group; Jes Munk Hansen, President and CEO of ROCKWOOL Group; Benoit Bazin, Chairman and CEO of Saint-Gobain; Olivier Blum, CEO of Schneider Electric; As Tempelman, CEO of Signify; Johnny Sjöström, President and CEO of SSAB; and Lars Petersson, CEO of VELUX Group.