Event Summary
MSC continues Digital Conversations with discussion on European Energy Security
The Munich Security Conference brought together senior policy-makers, business leaders, civil society representatives and analysts to discuss the consequences of the COVID-19 pandemic for the European energy transition. Francesco La Camera, Director General of the International Renewable Energy Agency (IRENA), delivered a keynote statement at the beginning of the event. The conversation was moderated by Boris Ruge, Vice-Chairman of the Munich Security Conference.
On June 30, 2020, the Munich Security Conference hosted a high-level digital event titled "Never Waste a Crisis. An Update on European Energy Security". The MSC thereby continued its Digital Conversations on the COVID-19 pandemic and at the same time picked up on previous discussions within its dedicated Energy Security Series. In a small, confidential discussion, senior policy-makers, business leaders, civil society representatives and analystsexchanged views on the consequences of the COVID-19 pandemic for the energy transition in Europe, green recovery options and the future of fossil fuels. Francesco La Camera, Director General of the International Renewable Energy Agency (IRENA), delivered a keynote statement at the beginning of the event. Ambassador Boris Ruge, Vice-Chairman of the Munich Security Conference, moderated the event.
Investments in technologies and infrastructure are crucial
Participants emphasized the need to seize the opportunities arising from the current crisis to push ahead with transition, and some highlighted the importance of developments in other parts of the world, Asia among others. The geopolitical implications of the effort to shift the global energy mix towards renewables were discussed, as some participants drew attention to the risks for Europe arising from the possible destabilization of states dependent on the export of fossil fuels. Furthermore, the centrality of investments in technologies and infrastructure was highlighted. Some participants pointed to the crucial role of hydrogen for the decarbonization of the energy system in Europe and noted the need to develop a hydrogen economy in Europe and beyond. The issue of “stranded assets” in fossil fuel industries was also touched upon.
In the wake of the coronavirus pandemic, the Munich Security Conference has created a new event format: the MSC Digital Conversations. Here, decision-makers and experts regularly discuss challenges and possible solutions to security implications emerging from the COVID-19 crisis as well as other pressing issues. Learn more about the Digital Conversations.
