2024 has been an intense year. About half the world’s population lives in countries that held elections, sparking varying discussions on development, priorities, and the way forward.
On the positive side: Europe will soon have a new EU Commission, with a clear direction. Climate goals and the Green Deal remain determined, with plans to complement them with more targeted legislation. The challenge here will be balancing the transition with competitiveness.
On the more worrying side: competitiveness relies on collaboration within value chains. In this context, it’s concerning that the U.S. election’s main theme regarding global relations has been building new tariff barriers.
The last two weeks’ climate summit in Baku highlighted the lack of political global coordination. Representatives from around the world spent time arguing over who should finance the cleanup of the climate transition’s consequences rather than discussing how to reduce fossil emissions. It’s like focusing on how to bandage a ruptured artery.
The coming years will place entirely new demands on businesses to find ways to develop solutions that make a short-term difference while remaining sustainable over time.
In times of geopolitical and regulatory uncertainty, it may seem wise to wait. In fact, the opposite is true. The long-term direction is neither on the ballot nor up for negotiation. While methods and timing may vary, fossil emissions must decrease in some form. Every strategic decision in that direction will pay off. Those who step forward to lead the transition will not only be correct but will also succeed.
Eva-Marie Byberg
EVP, Head of Sustainability and Strategy
Sekab
This is the concluding comment of Sekab newsletter, this time by Eva-Marie Byberg, read all our newsletters here