CEPI foresees 40 percent more investment to transform industry and lead the low-carbon bioeconomy in Europe.
At the 18th edition of annual event European Paper Week, CEPI’s new Director General Slyvain Lhôte and its Chairman, Peter Oswald (CEO Mondi Group, Europe & International Division) outlined industry’s ambitious investment agenda towards achieving its 2050 vision of a low carbon, resource efficient bioeconomy.
Building on the roadmap it had laid out in 2011 industry reaffirms its vision of leading Europe’s bioeconomy transition towards 2050 by cutting its carbon footprint by 80 percent while creating more than 50 percent more added value.
“Investment will be the cornerstone of making this industry transformation happen in Europe,” said Sylvain Lhôte at the High Level Session at European Paper Week. We project the need for 40 percent more investment to transform our industry base and seize new market opportunities. This can happen in Europe if we align European policies, our research efforts and financing conditions. Our agenda goes against the gloom prevailing in so many industries. For CEPI, getting the conditions right to invest more in Europe will be the priority.
Industry currently invests EUR 3 to EUR 3.5 billion per year in Europe. The capital expenditure to deploy decarbonisation technologies in Europe and develop production of new bio-based products would require an additional EUR 44 billon by 2050 or in other words 40 percent more than current levels.
The key findings of the roadmap review that CEPI experts carried out in 2016 are now available for consultation from stakeholders. The goal is to broaden the collective input of the document through seeking consultation with key stakeholders on enabling conditions for industry transformation and to table a revised roadmap early 2017.