Greece at the Crossroads: Balancing Green Transition and Economic Competitiveness

Greek Prime Minister Kyriakos Mitsotakis emphasized the need for more resources to address climate challenges, as Greece leads in renewable energy yet grapples with climate-induced disasters. He stressed the importance of balancing the rapid green transition with economic competitiveness at the UN COP29 summit in Baku.

Greek Prime Minister Kyriakos Mitsotakis has called for increased resources to tackle climate challenges as Europe leads in the green transition. Speaking at the UN COP29 summit in Baku, he warned against overlooking the present for future goals, stressing the need to prepare for climate-induced disasters.

Greece, abundant in sun and wind, has significantly boosted its renewable energy output, now accounting for half of its power generation. Yet, the nation has faced destructive climate events, including its hottest summer on record, highlighting the urgent need for effective response strategies.

Mitsotakis outlined the delicate balance between pursuing a swift energy transition and maintaining economic competitiveness. He urged Europe to consider the impact on its industries and push for better power market structures to stabilize soaring electricity prices, calling for urgent action from the European Union.

(With inputs from agencies.)