Financial Times on Nostr: Europe must end ‘disadvantage’ for green first movers, Maersk boss says ...
Europe must end ‘disadvantage’ for green first movers, Maersk boss says
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Vincent Clerc, CEO of AP Møller-Maersk, emphasizes that Europe must eliminate the 'disadvantage' faced by green first movers to remain competitive against the US and China. He notes that Europe is 'slowly losing out' as highlighted in a recent report by former European Central Bank president Mario Draghi. European green companies like Ørsted and Northvolt are struggling, with Ørsted having scrapped plans for a green-fuels plant in August 2023. The US Inflation Reduction Act provides $370 billion in subsidies for green technologies, while China offers even more support. Clerc warns that shipping lines will likely continue to divert routes around the Cape of Good Hope due to attacks by Yemen’s Houthi rebels, which have increased shipping times and congestion at ports.
#Maersk #VincentClerc #GreenTechnology #Shipping #Europe #Us #China #InflationReductionAct #Ørsted #Northvolt
https://www.ft.com/content/389c2e73-7ba1-4bde-9fe6-6e343097fd0b
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Vincent Clerc, CEO of AP Møller-Maersk, emphasizes that Europe must eliminate the 'disadvantage' faced by green first movers to remain competitive against the US and China. He notes that Europe is 'slowly losing out' as highlighted in a recent report by former European Central Bank president Mario Draghi. European green companies like Ørsted and Northvolt are struggling, with Ørsted having scrapped plans for a green-fuels plant in August 2023. The US Inflation Reduction Act provides $370 billion in subsidies for green technologies, while China offers even more support. Clerc warns that shipping lines will likely continue to divert routes around the Cape of Good Hope due to attacks by Yemen’s Houthi rebels, which have increased shipping times and congestion at ports.
#Maersk #VincentClerc #GreenTechnology #Shipping #Europe #Us #China #InflationReductionAct #Ørsted #Northvolt
https://www.ft.com/content/389c2e73-7ba1-4bde-9fe6-6e343097fd0b