Danish stakeholders, including Insurance and Pension Denmark (I&P Denmark), have joined forces to demand a greener European Commission Budget, arguing that the EU
must create a better framework for private investment.

I&P Denmark were joined by the Confederation of Danish Industry, the Danish Chamber of Commerce, Green Power Denmark, Finance Denmark, green think tank Concito, and the Danish arm of the global ActionAid group, Mellemfolkeligt Samvirke, in its call to ensure that the EU Budget strengthens Europe's energy independence, competitiveness and green transition.

The stakeholders pointed out that the EU currently imports over 90 per cent of its oil and gas for more than €400bn annually, arguing that this is money that could stay in Europe and create jobs, innovation and security.

At the same time, the European Commission estimates that there is a yearly shortfall of up to €477bn in green investments by 2030 and even more by 2040.

Given this, the partnership stressed the need for "massive" investment in electrification and grid expansion to enable Europe to harness its own green energy and reduce its dependence on imported gas and oil.

In line with this, the organisations were very supportive of the European Commission's proposal to significantly increase funding for electricity connections.

However, they argued that the EU Budget must create a better framework for private investment through clear green criteria and modern financing tools, warning that while public funds alone cannot close the investment gap, the EU can set the direction and reduce the risk for investors.

I&P deputy director, Tom Vile Jensen, said: “The EU Budget is not just a spreadsheet. It is Europe's strategic plan for how we can become greener, safer and more competitive. If Europe is to be stronger, green investments must be significantly increased.

“There is no contradiction between green transition and growth – they are prerequisites for each other. Now we have a historic opportunity to ensure that the EU Budget becomes the driving force that Europe needs.”

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