“The main problem that exists today in investments concerning raw materials and energy has to do with the uncertainty about Future technologies. This reduces the secure payback period of an investment and therefore increases the risk.The above was emphasized by the president of SME at the 4th NAVIGATING THE FUTURE - Advanced Manufacturing & Logistics Conference taking place today in Athens.
Mr. K. Yazitzoglou in his intervention spoke about “energy resilience ”for which the European Union in recent decades does not have major achievements to show
- Energy resilience depends on technology and fuel, he added, while pointing out that at the technology level Europe was strong in nuclear technology, which it has now condemned.
- at the fuel level Europe mainly had solid fuels (coal, lignite) which it has also now condemned
- in the field of renewables, which at this moment is the main axis of European energy policy, the EU has neither technology nor raw materials (minerals) nor equipment production
Closing his intervention, Mr. Yazitzoglou referred to it, pointing out that « we have become accustomed to discussing major events such as the pandemic, war conflicts, the change in international trade rules
- it is worth referring to parameters that create instability and usually go unnoticed
- there is instability in European competitiveness. Policies and the regulatory framework distort / worsen European competitiveness slowly but steadily (see Draghi report)
- there is also extreme uncertainty regarding future technologies. The European Union has complete dependence in critical raw materials on third countries, f mainly on China.
- Artificial intelligence promises us uncertainty in various sectors, among them how sustainable any technology we use today is.