Europe is at a crossroad. Complacency, lack of belief in our own potential and a sense that Europe’s best days is behind us are all dangerous, but all present. This is not least true within the European industrial community. Of course there are many examples of positivity, investments and innovation – but too many industry leaders fundamentally lack the belief in Europe as a base for their companies plans for the future. This is one of the most important tasks for the incoming European commission and parliament to handle. Seeing that many of the appointed commissioners have portfolios aimed at this is promising, but titles need to be filled with action.
Now more than ever, Europe must take a look in the mirror and acknowledge its vulnerability. Policymakers have a dire task, directing the way forward. The challenges raises geopolitical issues, spanning defense priorities, a greater European self-reliance and our role vis-à-vis other world powers.
European industrial production is still heavily reliant on fossil energy as well as fossil raw materials. This is especially true in the chemical industry, a sector providing building blocks to other industries. This is a problem in itself, given the need for an overall green transition. For Europe in particular though, fossil also means dependent on import of raw materials.
If Europe is to live up to its green ambitions, as well as creating a more resilient and self-sufficient economy, we need to find more non-fossil sources of raw materials. Along with recycling, the obvious starting point is biomass of which Europe is abundant. From vast forests to agricultural residue, there is value to be created and inter-European value chains to be linked.
A European reawakening, geopolitical, industrial or otherwise, is dependent on key stakeholders realizing there is such a thing as a European interest. Many American business leaders, outspoken about their patriotism without losing focus on the competitiveness of their individual companies, can serve as an example. If policymakers show that this historical infliction point can be matched by unprecedented action, European industry need to step up to the same degree.
As a bio-based European producer of chemicals Sekab is always looking for partners willing to lead the charge on the fossil dependency and at the same time increase European competitiveness.
Emil Källström
CEO
Sekab
This is the concluding comment of Sekab newsletter, this time by Emil Källström, read all our newsletters here