“The European Union faced many geopolitical and economic upheavals in 2022 including hydrocarbon supply difficulties and rising energy prices. This situation has provoked an accelerated shift in both energy usage and production methods by encouraging the adoption of low-carbon technologies. It has also triggered a historic surge in public policy. This momentum is happening on a global scale. In the United States for example, the Inflation Reduction Act (1) is encouraging companies to invest in green energy.”
(1) The U.S. Inflation Reduction Act, in place since January 1, 2023, aims to curb inflation by reducing the deficit, while meeting the challenges of climate change and strengthening the social security system.