Climate crisis transcends all political, economic spats: European Commission’s Frans Timmermans

Frans Timmermans, Executive Vice President of the European Commission, emphasised the urgent need for collective action to address the climate crisis. He said climate crisis transcends all political and economic interest differences and called for an end to the illusion that inaction will solve the problem.


Speaking at the Confederation of Indian Industry's (CII) annual session, Timmermans stressed that procrastination will only increase the costs associated with tackling climate change. Looking ahead to the next Conference of the Parties (COP) conference in Dubai, he called for a focus on creating sustainable jobs and fostering economic growth while staying within planetary limits.

He stressed the need for global players to take on global responsibilities to effectively combat the climate crisis and achieve a sustainable future.

Highlighting China's impressive achievement of adding 40 GW of solar energy capacity in just four months, Timmermans recognised this as a massive opportunity for global renewable energy expansion. He urged the international community to set clear goals for the generation of renewable energy on the global stage.

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In order to successfully address the climate crisis, Timmermans argued, "We can't face the climate crisis if we can't convince our constituents that the transition will be just." and further pointed out that small and medium-sized enterprises (SMEs) are major job creators in any economy.  He emphasised the need to provide direct access to capital for SMEs to facilitate their transition to sustainable practices.

Timmermans drew attention to Europe's youth unemployment rate of 6 percent, attributing it to the consequences of the conflict initiated by Russia. He stressed the importance of establishing a clear price on carbon, as decarbonisation cannot be achieved without it. He also called for support for SMEs during the transition process.

Comparing the approaches of the United States and Europe, Timmermans noted that the US tends to rely on tax relief and financial incentives rather than regulatory measures. He emphasised the significance of regulatory stability in Europe's climate action efforts.

Recognising India's high levels of engineering education, Timmermans highlighted the country's potential to provide innovative solutions in areas such as air capture, electrolysers, and wind turbines. He urged the need for supply chains that extend beyond European borders.

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He emphasised the need to establish a comprehensible and long-term carbon pricing system to attract financing for decarbonisation efforts. He noted that even the US — as the inventors of the market economy — is yet to develop such a model.

Acknowledging Europe's shortcomings in supporting businesses to invest in risky areas for energy transition, Timmermans called for increased backing of ventures in this field. He also raised the issue of energy access, highlighting that 600 million Africans still lack access to reliable energy sources.

Timmermans commended American investments in energy transition but expressed concern over the potential for a protectionist system that could impede global economic progress. He emphasised the importance of discussions aimed at avoiding protectionism and preventing technology development that could harm other players in the market.