Hungary sticks to 2035 target

With the ‘Budapest Declaration’, the current process could be halted and a new economic phase initiated, which should go hand in hand with the conversion of the economy to the climate targets. According to the Hungarian Minister of Economy, the EU internal market must be deepened in order to strengthen strategic sovereignty. Regulation should be pushed back and SMEs in particular need a more favourable business environment. In order to survive in global competition, the focus should be on productivity and innovation instead of trade barriers and protectionism.

Nagy referred to the debate on the challenges facing the automotive industry, to which he noted that climate targets must be in line with industrial policy objectives. The problem is that the EU has ‘forged ahead’ on the climate issue without adapting its industrial strategy. ‘We have not helped the automotive industry to realise the goal of the green transition.’ Nevertheless, the Hungarian maintained that the transition to electromobility should be completed by 2035.

A further debate arose in the COMPET of EU Internal Market and Industry Ministers regarding the categorisation of nuclear energy as green. The issue was whether nuclear power plant projects can receive subsidies from the EU budget or must receive state subsidies in the individual countries. Hungary’s position is clear and unambiguous: nuclear energy is green and clean energy. ‘Those countries that have cheap energy can switch to electromobility more easily and also save their industry,’ summarised Nagy.