In a compelling conversation with POLITICO Pro Morning Trade Europe, Kim Fausing, Danfoss President & CEO, urges Europe to “shift gears” to reclaim its competitiveness and establish a robust green industrial base. “Europe is falling behind, and we need to shift gears based on this, and get this focus back from more bureaucratic to more growth-oriented, focus on competitiveness and productivity and … then double down on the green transition, because it’s the core of driving competitiveness,” Fausing told POLITICO in an interview. For the industry, building a domestic green industrial base has three components, Fausing argued: more efficient infrastructure, energy reuse from data centers and infrastructure and, finally, transitioning to renewables. Asked whether there’s a greater need for subsidies in Europe, Fausing pointed to the US Inflation Reduction Act, arguing: “I think that’s what we need to learn in Europe, that we need something that is effective now, not in five years from now, because the train has left the station.” Fausing also stressed that he is calling for a “more progressive, not a defensive” view of Europe. He pointed to a tracker developed by the Australian Strategic Policy Institute, which finds that out of 44 so-called critical technologies, Europe doesn’t lead on a single one. “It means we need to change our mindset and be much more clear about where we want to make a difference and to win,” he said. Read the full conversation with Antonia Zimmermann from POLITICO Europe here (Politico PRO subscriber content): https://lnkd.in/eQB-Dr-s #GreenTransition #EngineeringTomorrow #WhyEE #EnergyEfficiency
Fantastic! Great to see - congrats Danfoss team 👏🏻
Amanda Chick
3w
Thank you Antonia Zimmermann for the great interview!
Director, Drives Intelligence
3wThis is great. Thank you. And don't forget the underlying role which data plays in this transformation.