EU Summit on European Competitiveness Held at MOL’s Headquarters

In connection with the Hungarian EU Presidency, the EU Competitiveness Council met at MOL’s headquarters in Budapest with the ministers and state secretaries of the member states responsible for competitiveness.

The informal meeting focused on preserving and strengthening European competitiveness, which participants said is a prerequisite for a successful green transition. To this end, they called for an environment that encourages industrial development, and MOL presented its sustainable strategic areas in an interactive exhibition.

The company set up a lithium lab for the event and its experts outlined the potential of geothermal energy, carbon capture and storage.

According to the MOL’s press release, the chairman of the MOL Group’s supervisory board called for industry and decision-makers to work together to be competitive.

Instead of over-regulation,

the EU leadership should prepare a predictable and realistic plan for the future, a realistic action plan instead of visions,

said Zoltán Áldott. The chairman added that MOL is accelerating the green energy transition with its investments, and is also playing an important role in the region’s energy security, but it needs a supportive environment.

MOL said in March that it had updated its Shape Tomorrow strategy to ensure a successful green energy transition and competitiveness in the region. On the occasion of the announcement, CEO Zsolt Hernádi highlighted that MOL is setting increasingly strong sustainability goals. Industrial companies cannot bear all the costs of the energy transition, they can only be achieved with community support, effective regulation and cooperation, but as a partner MOL is joining the joint European effort, he added.

Via MTI, Featured image: Facebook/MOL Campus