Globalization
Maximize Supplier Diversity: Strategic Sector Investments
Investment in key sectors such as clean energy and semiconductors in the U.S. exceeds $525 billion since 2021,
July 19, 2024
Investment in key sectors such as clean energy and semiconductors in the U.S. exceeds $525 billion since 2021,
The European energy policy for 2024-2029 focuses on energy transition through the Green Deal and the RepowerEU plan. The goal is to reduce dependence on Russia, decarbonize the sector while protecting industrial competitiveness and promoting a just transition. The implementation of the Fit-for-55 package and maintaining affordable energy prices are crucial for this transition.
COP28, from November 30 to December 12 in Dubai, is crucial for global climate action following temperature records and extreme climate events, addressing loss and damage fund and energy transition. It will be presided over by Dr. Sultan al-Jaber of UAE, who is criticized for his ties to fossil fuels.
The European Union plans to increase solar energy capacity to nearly 600 GW by 2030, primarily by importing panels from China. This raises concerns about economic security and geopolitical vulnerabilities. An unbinding target of 40% solar self-sufficiency for 2030 has been agreed upon. It is recommended to accelerate solar deployment, create strategic reserves, and diversify sources of import.