ORLEN's key policy asks at the EU Forum
The key points, which are fully in line with ORLEN's plans of climate neutrality by 2050, relate to three pillars: technology neutrality and maintaining the competitiveness of the EU market, the availability of financing for decarbonization and the creation of better regulations.
ORLEN's operations are highly influenced by EU regulations, which to a large extent determine the development model of the sector in which the company operates. Therefore, ORLEN has prepared a statement highlighting the key points, the implementation of which will allow the construction of an EU regulatory environment enabling sustainable energy transformation based on sound economic foundations. ORLEN proposes creating conditions that will enable companies to operate in a sustainable and environmentally safe manner, but at the same time preserve the competitiveness of European industry. The fresh started five-year regulatory cycle in the European Union provides an opportunity to highlight topics that are of utmost importance for company's operations.
In the case of the first pillar, ORLEN stresses the need for technological neutrality. In order for the transformation to be sustainable and not unduly burden the economies of EU member states, it is necessary to take into account the economic characteristics of individual countries, the geopolitical context and social costs while determining the pace of its implementation. Allowing a full catalog of zero- and low-carbon technologies will lower the cost of the transition and increase its efficiency, while maintaining production and jobs in the EU.
In the context of financing decarbonization, ORLEN Group calls for a system of incentives and financial support instruments. Projects using decarbonization technologies, often at an early stage of development, are extremely capital-intensive and their profitability is uncertain. Regulations should therefore create incentives for investment in the full range of zero- and low-carbon technologies. Direct financial support is also needed. Dedicated EU funds are needed to support the construction of energy infrastructure and the development of innovative technologies, which should be complemented by funds dedicated to individual regions of the Union.
Concerning better regulation, business facilitation is important to implement, including solutions limiting excessive reporting, avoiding regulations that are prescriptive and overly detailed, or introducing ones that take into account technology and socio-economic realities of particular countries. The system of targets and penalties for failing to meet the requirements set by the Union can have a negative impact on business performance, economic growth and the well-being of citizens, increasing the risk of failing to achieve set ambitions. That's why ORLEN calls for introducing incentives to attract new investments. At the same time, the company stresses the need for ongoing dialogue between EU institutions and the energy and industrial sectors.
Files: