The time to act is now: invest in R&D to lead decarbonisation

The climate crisis is the greatest collective challenge humanity has faced in millennia. Not only because of the impact it will have on our way of life, but also because it must be tackled collectively, on a global scale, with all the complexity that entails. 

To face this challenge, the energy transition will be the fundamental pillar upon which the global strategy is built: changes in energy generation systems, changes in how energy is used, and, of course, changes in the ways energy is transported. 

This energy transition (a revolution, if we look at the process with enough perspective) will require us to develop new ways of generating electricity, new renewable fuels, new systems for the electrification of heat, CO₂ capture systems, new materials, systems for reusing products and materials we already have... In short, over the coming decades, we will have to innovate in this field more than we have in the past century. 

To achieve this, investing in R&D is crucial. At the European level, we must aim not only to lead the decarbonization goals of our economy but also the development of these new technologies, new products, and new materials. We must see this challenge as a great opportunity to enhance the competitiveness of our companies, our industry, and, more broadly, our economy. 

If we do not turn this transition into an opportunity to improve economic competitiveness and instead merely assume the costs of decarbonization (and, of course, the costs of adapting to climate change, including those affecting the most vulnerable countries), we will inevitably face an industrial crisis that will impact the economy of Europe as a whole. 

We are at a crossroads where we must decide whether to invest in R&D to position ourselves at the forefront of innovation in decarbonization or, on the contrary, let this opportunity pass us by. 

At Tecnalia Research and Innovation, our position is clear: the time has come to commit to a better future for the next generations in Europe and around the world. 

José Luis Elejalde, Energy, climate and urban transition director at Tecnalia