E3G think tank argues that Portugal must step up policies related to lithium and green hydrogen or risk losing important cleantech opportunities, according to a study published this Friday.
The E3G (climate-focused) “think tank” study claims that “Portugal is theoretically well positioned” to develop lithium and green hydrogen value chains, as it has green hydrogen advantages compared to it and has European advantages. largest reserves of lithium.
However, the limitations of the Portuguese economy, in which most projects export these products to wealthier regions of Europe or use them in low value-added activities, and the European Union’s financing structure (which, by relying on contributions from national financial institutions, hurts the poorest countries) puts the country at risk stay out of the global cleantech investment momentum.”
Therefore, E3G believes that the choice for the coming years will be decisive and presents some measures that Portugal should follow, such as “improving the existing framework for investment in lithium, ensuring that this benefits local communities through the development of the lithium battery value chain . at the regional level, meeting strict environmental requirements”.
He also proposes setting targets for the introduction of clean technologies, stating that auctions for offshore wind power should, for example, include requirements to include green steel.
With regard to international cooperation, he argues that the development of clean technology value chains should be on the agenda of the Iberian summits and that Portugal should participate in an international partnership for industrial decarbonization.
With regard to the EU, E3G argues that industrial policy “does not contribute to the efficient development of clean technology value chains” because, since it is based on the financial contribution of each country, it favors the richest countries and harms the poorest, hence with lower investment potential.
To this end, the authors of the study (Arthur Patuleja and Alexandra Waliszewska) believe that the EU should guarantee fair competition conditions within the budget, have strategies for the development of clean technologies in national energy and climate plans, and establish a predictable basis for development. these projects for investors.
They also argue that the EU should ensure that European funding for hydrogen encourages its use in priority areas and takes into account the economic value for local communities of mineral resource projects (the Critical Raw Materials Act ruling).
Author: Portuguese
Source: CM Jornal
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