Europe has weathered successive shocks—Russia's invasion of Ukraine, turmoil in the Middle East—each exposing the continent's dependence on imported energy. Emergency fixes have kept the lights on, but as ten CEOs from leading European industrial firms argue, managing is not the same as succeeding. The path to genuine strategic independence, they contend, runs through energy.
In a coordinated statement timed to coincide with the European Commission's upcoming Electrification Action Plan and updated Emissions Trading System (ETS) proposals, the leaders of ABB, Alfa Laval, Danfoss, Knauf Insulation, ROCKWOOL, Saint-Gobain, Schneider Electric, Signify, SSAB, and VELUX Group make a clear case: decarbonisation and competitiveness are not trade-offs but mutually reinforcing goals.
Efficiency Gains Already Deliver
The evidence, they say, is already visible. Over the past two decades, Europe's energy consumption has fallen by roughly 30% relative to what it would have been without efficiency improvements, while real GDP has grown by 27%. More economic value is being generated with less energy. Yet the continent's vulnerability remains self-inflicted: wasted energy, continued reliance on imported fossil fuels, and delayed investment.
“Europe's vulnerability is not decarbonisation. It is wasted energy, dependence on imported fossil fuels, and delayed investment,” the CEOs write. Their companies, which collectively operate hundreds of factories across the EU and generate more than €150 billion in annual turnover—nearly one percent of EU GDP—are already delivering the transition. They build and power the infrastructure that citizens and businesses depend on.
The solution, they argue, lies in deploying three strategies together: use less energy through greater efficiency, shift demand to electricity, and produce that electricity from clean, domestic sources. Done in concert, this lowers costs, strengthens resilience, and keeps more value within Europe.
Economic Prize and Execution Gap
New analysis cited by the group suggests that a sustained focus on efficiency, electrification, and carbon pricing could cut European gas imports by 70% by 2040, generating significant cost savings and improved living standards. But the prize will only be captured if Europe moves from policy to delivery.
“The challenge is not strategy—it is execution,” the CEOs state. The legislative framework is largely in place, but Brussels and the 27 member states must now act with speed, scale, and consistency. The EU Auditors: €43 Billion Renovation Fund Lacks Proof of Energy Savings report underscores the gap between ambition and implementation.
Capital investment decisions being made today will shape the bloc's industrial competitiveness, employment, and technological leadership for decades. What companies need, the CEOs say, is confidence to allocate capital at the scale required. That means fully implementing agreed legislation such as the Buildings Directive, using ETS revenues to accelerate industrial decarbonisation, and putting electrification and energy efficiency at the centre of industrial and energy policy with clear 2040 goals.
Political leaders cannot control every crisis, but they can provide the stability and predictability that unlock investment. Every home renovated, every grid modernised, every industrial process electrified moves Europe closer to real energy sovereignty.
As the Commission prepares its next steps, the message from these ten industrial leaders is unambiguous: press ahead with urgency. The continent's strategic independence depends on it.
