European paper industry launches bold investment Roadmap
The European paper industry has launched the reviewed version of its 2050 Roadmap detailing the pathways and investment needed to cut its carbon emissions by 80 percent while creating 50 percent more added-value. The Roadmap estimates the need for EUR 44 billion more investment - a 40 percent increase from current levels - to transform the industry in Europe and lead the low-carbon bioeconomy by 2050.
The Confederation of European Paper Industry (CEPI), a non-profit umbrella organisation for European national paper industry associations pioneered in 2011 the first low-carbon industry Roadmap, which according to CEPI made it the first industry sector to table a blueprint to bolster industry transformation.
In a statement today, CEPI reaffirms its vision that decarbonisation and growth are mutually compatible and calls for a better alignment of policy, research and financing conditions to boost investment in Europe.
Since our first Roadmap in 2011, the paper industry has invested EUR 15 billion in Europe. More must be done to accelerate industry transformation in Europe over the next decade. It is now essential to lift-off the low-carbon bioeconomy and pace of transformation, said Sylvain Lhôte, Director General CEPI.
From energy efficiency to deployment of breakthrough technologies, emissions reduction pathways were estimated to require a combined additional investment of EUR 24 billion by 2050. A further EUR 20 billion of investment would be required to boost the production of new low carbon bio-based products.
The European Commission has rightly put the focus back on investment. However; it lacks a long-term commitment to drive manufacturing investments back to Europe. The time to act is now; the policy framework for the next decade is being shaped now and over the next three years, added Sylvain Lhôte.