WEBINAR A Green Covid-19 Recovery and Resilience Plan for Europe - June 10th, 2020
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WEBINAR
June 10th, 2020
A Green Covid-19 Recovery and Resilience Plan for Europe
Agenda
12h00 | Introduction – Pete Harrison, European Climate Foundation
12h10 | A green recovery package – presentation of the project: Peter Sweatman, Climate Strategy & Project Board
12h20 | Methodology and expected results, Alexis Gazzo, EY
12h30 | How can you help us? Erica Hope, ECF for a presentation of survey questionnaire and projects database
12h40 | Q&A sessions and discussion with the participants
Page 2
Webinar : Functioning and rules ► Thank you for your participation ! ► Given the number of participants, we will save questions to the end; if you have comments please write them in the chat ► When it comes to Q&A at the end, please write “hand” in the Chat and the moderator will come to you to ask your question ► Please use Chat rather than the Q&A section of Zoom ► As it may not be possible to cover all questions live, we will follow up after if needed ► We wish you a good webinar ! Page 3
Speakers
Peter Sweatman
CEO of CS and ECF Project Board Member
Alexis Gazzo
Partner, EY
Sustainable Performance & Transformation
Erica Hope
Director, ECF
Climate Planning & Laws
Page 4
What is the green recovery package project ?
To reach the objective of carbon-neutrality, transversal ambitions, sectoral policies and financing components will need to be adapted to countries and sectors by Governments at EU and MS level Page 6
Emerging from the COVID Crisis will go through three financial phases…
1
Stabilization
2 3
Recovery Rebuilding
/ Rescue
Keeping markets open Restarting Europe’s Rebuilding
& addressing Economy a sustainable economy
immediate emergency with a long term
needs • Fiscal stimulus measures perspective
• Issuance of liquidity • Demand stimulus • Economic and societal
debt bonds coupled with economic models
and job growth may require further
• Compensation for rethinking
these activities is • Government led
needed investment • Potential debt relief
• Introduction of relief • Implementation of policy
measures frameworks to facilitate
phase 3
Page 7
European leaders consider that the Green Deal’s ambitions should be at the core of recovery plans
“As we now plan to slowly go back to work and to invest billions of “European Green Deal must be central to a resilient recovery after
euros to restart our economy, we should avoid falling back in old, Covid-19”
polluting habits” Joint Declaration of 13 European Environment
Ursula Von Der Leyen Ministers on 11 April 2020
April 20th, 2020
"We will need to build a strategy where we find the long time,
the ability to plan, the carbon sobriety, the prevention, the
resilience that alone can allow us to deal with future crises. ”
“A new Recovery and Resilience Facility with a budget of €560 billion –
Emmanuel Macron,
distributed in grants and loans. This will support Member States to
April 13th, 2020
implement investments and reforms that are essential for a sustainable
recovery. Member States will design their own tailored national recovery
plans, based on the investment and reform priorities identified as part of the
European Semester, in line with National Climate and Energy Plans, Just
“The future is with a green, resilient and digital economy
Transition Plans and Partnership Agreements and Operational Programmes
that makes sure that there are sustainable jobs, economic
under EU funds”.
growth and that we are able to react to other challenges
when they come.” “Europe’s moment: Repair and Prepare for the Next
Frans Timmermans, Generation”
May 28th, 2020 COM(2020) 456 final Communication on 27 May 2020
Page 8
Yet the economic crisis caused by COVID-19 can threaten the European Green Deal’s ambition…
Potential short-term effects A temptation to reduce the pace of transitions to
Ø Historically low oil prices and falling electricity prices might
preserve certain sectors of activity
impact the shift to sustainable energy models 37 MEPs asked on 30 March "to postpone new legislation in the
Ø Potential impact on the cost of capital for capex-intensive framework of initiatives such as the European Green Deal".
projects
Ø Some countries are already backtracking on some of their climate
Ø Increased investor vigilance for fund raising and difficulties to commitments
raise finance for innovative projects Ø Automotive industry calls for relaxation of regulations on CO2
emissions from vehicles
Page 9
More than a trillion euros of Green deal and recovery plan money, with a need to identify tangible
opportunities to invest in
MS-level Stimulus: e.g. Germany’s €130
billion euro recovery budget putting the
Multiannual Financial €1,100 focus on climate-friendly industries and
Framework PLUS billion technologies.
Next Generation EU
€750 billion
(temporary reinforcement)
SURE / ESM Pandemic Crisis Support / EIB
€540 billion
Guarantee Fund for Workers and Businesses
Source: European Commission
March - May 2020 January 2020
Page 10The core of the EU Stimulus money will finance Recovery and Resilience actions in the most impacted
Member States
EU Stimulus composition Sectorial breakdown of
Where the €750bn will be invested green transformation investment gaps
€ 15,5 bn; EU 200
partners' € 9,7 bn; Union
€ 45 bn; Civil Protection 180
support,
Agricultural & Health 160
policy, Just Humaniratian
EUR BN, PER YEAR
aid Programme 140
Transition Fund
120
€ 69,8 bn;
100
Horizon Europe, 80
InvestEU fund, 60
EU solvency 40
Instrument 20
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Climate and energy 2030 targets
Wider environmental objectives, beyond climate
Page 11The project’s objective is to support the elaboration of green recovery and resilience plans, by
providing a list of shovel-ready investment opportunities
A selection of projects in Europe The structure of an investment plan
1. Where and in which sectors are the 1. How to structure ambitious investment
“green and just” projects? plans for the five key sectors of the green
2. How can Member States prioritise their economy?
search to accelerate the recovery? 2. How to make these plans “fit for context”
in all 27 European countries?
Objective : a long list of 1,000 opportunities with priorities and
articulation of their strategic value for EU and selected National
decision makers
Page 12Our methodology
EY unique capabilities
EY is monitoring government response to the COVID-19 crisis
UK Germany
Utility companies to meet with Government
Spain & Italy
► ► German Government extends government-
to discuss COVID-19 action plan supported wind & solar parks deadline to cope ► Spanish govt has updated regulation including new
with COVID-19 delays definition of the ‘vulnerable consumer’, new eligibility
US conditions for the reduced electricity rate and a new way of
► New law on provisions for non payment of bills
► New Castle Board of Public Works & Safety financing the measure.
for private consumers 1 April to 30 June 2020
suspends late fees on utility bills ► Government allows retailers to delay payment of TPAs to
► Texas Pedernales Electric Cooperative has distributors to provide some liquidity to retailers
extended its suspension of service
► Government allows retailers to delay VAT & Energy taxes
disconnections for 60 days
(25% together) for the bills unpaid until the recovery of the
► North Carolina Governor signs executive order money
to prohibit utility disconnections
► Freelances and SMEs can delay their bills during ‘alarm
► Pennsylvania Public Utility Commission signed
status’
an emergency order suspending all door-to-
door, in-person and public event sales ► Companies and consumer can renegotiate power
activities, & prohibiting utility connection contracted without any cost, reducing the fix costs of the
terminations bills
► Washington Governor announces relief for
state businesses, workers & residents, who Australia
may struggle financially to pay utility bills ► Western Australia Government has announced relief package
► Virginia State Corporation Commission issued to offers support households that are unable to pay utility bills
an order directing utilities to suspend service due to COVID economic crisis
disconnections for 60 days ► Australian Capital Territory Government have launched
► Wisconsin regulators ordered utilities to initiatives for economic survival during the COVID-19 crisis
maintain residential service including additional rebate on consumer electricity bills &
► New Orleans Utilities office is working with freezing of utilities network facilities tax paid by utility providers
utilities providers to ensure efficient & France ► Australian Competition & Consumer Commission grants
uninterrupted service delivery ► The president of France, has suspended rent interim authorisation to the Australian Energy Market Operator
► California Public Utility Commission enacts payments and utility bills, including gas, water, and to ensure uninterrupted energy supply & integrity of wholesale
utility consumer protection provision in electricity amid the coronavirus outbreak energy markets
response to the COVID-19 outbreak
Page 14EY has developed a number of tools and resource to support its clients navigate their response to COVID-19 The Government Economic Interventions Dashboard is a tool EY Tax: COVID-19 Stimulus Tracker. EY-produced document covering designed by the Government and Real Estate Knowledge Team to government policy and stimulus responses to COVID-19. Global provide a deep dive into the economic stimulus packages of the coverage, with jurisdictions added as information becomes available. world’s top economies. The tool provides a quick snapshot of the health and GDS related impact of COVID, followed by a map based summary per country of stimulus packages, and summary of official country closures. https://eygb.sharepoint.com/sites/GRE- https://www.ey.com/en_gl/tax/how-covid-19-is-causing- Coronavirus/SitePages/Government-Economic- governments-to-adopt-economic-stimulus-- Interventions-Dashboard.aspx Page 15
We are building a list of opportunities across all EU countries and five sectors in order to fuel the
discussion on investments needed in Europe
Objective: a long list of 1,000 opportunities with priorities and articulation of their strategic value for EU and selected National decision makers.
What are the targeted sectors and sub-sectors? What kind of opportunities should be targeted?
Energy
Typology : both infrastructure projects and technology-focused
projects
Transport
Size : minimal investment size of projects should be in the 5-10m€
range
Buildings
Risk and Technology maturity : estimated financial close in 2020,
2021 and 2022.
Industry
Type of project developers/proponents : Startups, SMEs, large
corporations, NGOs and Government entities will be covered
Land Use
Project on a pre-financing stage will be analysed based on the main hurdles encountered or foreseen by the project/technology developer and the
key environmental and social benefits.
The goal is to identify the current need for a project and the potential impact of its integration to the green recovery plan.
Page 16We will collect information on projects an online survey and on the basis of interviews with
Governments, project developers, investors, corporates and other key stakeholders
1 Scoping for a long list of 1,000 projects 2 Prioritization on the 5 sectors and the 27 EU countries
Energy *
Transport
Buildings
Online survey Direct interviews
Industry
Land Use
(actifs stratégiques, CA actuel, cohérence stratégique, intensité capitalistique, intégration concurrents)
Des opportunités de taille significative sur des
marchés pour lesquels Egis bénéficie d’un bon
Forte
niveau d’accès et qui rassemblées forment des
systèmes cohérents
Capacité d’Egis à accéder à ces marchés
Example of Guinard Energies
Moyenne
prioritization MegaWattBlue Systèmes marchés
: une gamme d’hydroliennes de petite/moyenne dimension jouant sur l’accélération du courant
pour un rendement amélioré et proposant une solution de pose simplifiée
Energie en ville
matrix
Présentation de la société Données clé
► Bâtiments et
Deux gammes d’hydroliennes : petites machines fluviales flottantes Création 2008
parcs immobiliers
(⌀66/154cm | 4/30kW) et machines moyennes sous-marines (⌀400/800 |
250/1000kW) ciblant essentiellement les marchés à l’export (ZNI) Paul Guinard (Président),
Transports,
Contact Vincent Mariette (DG)
► CA aujourd’huidistribution
généré d’énergie
par une activité de mesure de courant et de
puissance électrique sur site (Poseide®) Hydroliennes MegaWattBlue
► Innovations techniques visant une réduction des coûts (tuyère, ballast) Technologie (⌀66 à 800 cm)
► A déjà commencéProduction d’énergie
la commercialisation des petites machines (Guyane)
Des marchés ou technologies plus émergents et ► Cherche à lever des fonds pour financer un démonstrateur en Ria d’Etel Ventes: mesure de
Faible
complexes, pour lesquels Egis n’a pas à ce stade (P400) Environnement et Niveau de puissance électrique sur site
une position ou une légitimité avérée ►
autres sujets d’efficacité
Discussions avancées pour un autre projet en Bretagne (Morbihan) maturité (Poseide®) et P66
énergétique
► Gouvernance :Mobilité
Recrutement en cours d’un Directeur Général (2018) Démonstrateur prévu (P400)
sobre, offre
Potentiel de marché accessible par une société d'ingénierie urbaine et infrastructures
(taille du marché, part d’ingénierie, croissance, potentiel d’expansion) Description
optimisées de la technologie et perspectives
Faible Moyenne Forte
Caractéristiques Perspectives
► Principaux éléments différenciant: ► CA aujourd’hui principalement généré par activité de
► Tuyère accélérant le courant pour mesure de courant sur site (Poseide®)
accroître la puissance (x2.7) et ► Petites machines (⌀66/154cm) - marché export ZNI
permettant d’orienter l’hydrolienne ► Machine fluviale flottante déjà disponible
dans le sens du courant ► Vente déjà réalisée (Guyane | P66)
Example of a detailed top
► Système de ballast permettant une ► Essais concluants pour hybridation avec solaire et
pose simplifiée (SPIDHY) batterie
► Affiche le meilleur rendement (en ► Machines moyennes sous-marines (⌀400/800cm):
kW/m²) puissance par surface ► Recherche de financement pour démonstration en
priority project sheet balayée à 3m/s sur la base de Ria d’Etel
Screenshot of a preliminary long list
données publiques (rendement ► Perspectives de marché en France (Morbihan) et à Source : Entretiens V. Mariette / P.
Guinard / C. Laly (SEM56) - Presse -
certifié DGA) l’international BP Guinard
Page 49 Confidentiel – Pour l’usage exclusif de la Région Bretagne – Rennes – 13 novembre 2017
of projects
Page 17Why do we need your help on this important project? Page 18
How can you help us?
An online survey has been set-up in order to facilitate the collection of information
You can propose projects by responding to the
survey we are launching
1) User-friendly survey tool
2) Possibility to provide information on several
projects
Link to the survey
https://eyfrance.eu.qualtrics.com/jfe/form/SV_b2b7VSitZE3J09L Screenshot from the survey’s landing page
Page 20To elaborate this long list of green opportunities, EY has launched a pan-European survey with its
network of specialists
Andrea Ćirlićová Niclas Boberg
Carina Ohm
Robert Seiter Birute Bobrovaite – Jurkone
Tobias Broeders
Nauris Klava
Maarten Dubois
Remigiusz Chlewicki
Anthony O'Rourke
Laura Ciobanu
Jean-Gabriel Robert
Diana Nikolaevna
Bernardo Augusto
Vassilios Kaminaris
Ines Bargueño Sánchez Kiara Konti
Timea Palvolgyi
Roberto Giacomelli Ivana Simunec
Page 21We need you!
1 Fill in the online survey
and disseminate it to
potential respondents
2 Contact national EY or
ECF teams if you have
any questions or
comments
3
Participate in the
outreach of the project
to the decision makers
in EuropeQ&A session
Q&A Page 24
Contacts
Alexis Gazzo, EY & Associés
Alexis.gazzo@fr.ey.comYou can also read
