Greece’s chemical industry promotes energy transformation

Recently, Amodios Yanidis, Chairman of the Greek Chemical Industry Association (HACI) and CEO of Greek paint manufacturer Vitex, stated that the Greek chemical industry is leading the country in addressing climate change through hydrogen energy technology, carbon storage, and resource conservation through circular economy and chemical recycling.

Yanidis stated that the HACI board of directors believes that energy is the top priority on the association’s agenda and will play a role in promoting the transformation of green energy. In addition, it will also study strategies to address rising energy costs. Yanidis believes that the Russia-Ukraine conflict has increased the cost of energy and raw materials, and exacerbated the supply chain challenges. In order to meet the energy challenge, HACI commissioned a sectoral impact study in the first half of 2022. It found that at the peak of the Energy crisis, the total expenditure of Greek chemical enterprises on energy accounted for 15.2% of their total expenditure on goods and services, while the average level in 2020 was 3.5%. Yanidis stated that the measures taken by the European Union and the Greek government cannot effectively support the competitiveness of the chemical industry, and are also due to the issue of excessive regulation brought about by green agreements.

Yanidis said that Greek chemical enterprises will take the lead in promoting the production of chemicals with lower Carbon footprint by accelerating the construction of energy-saving and energy storage projects and renewable energy projects. Greece, with its geographical advantage, potential natural gas reserves, and the “dynamic development” of solar and wind energy, can build itself into an energy center that meets the needs of the European Union. In addition, HACI plans to increase its efforts to support its member companies in opposing “excessive regulation” from the European Union, and help them continue to invest in innovation to advance the fight against climate change.

Leave a Comment

Your email address will not be published. Required fields are marked *