Greek PM Mitsotakis Calls for "Smart Green Deal" at COP29 Summit in Baku

Greek Prime Minister Kyriakos Mitsotakis on Wednesday urged European leaders to pursue a "smart green deal" at the COP29 summit in Baku, advocating for a balanced approach to the energy transition that takes into account both environmental and economic realities.

"Energy transition is at the heart of Greece’s agenda. We have cut our emissions by 45% since 2005. Previously, lignite accounted for over 50% of our electricity generation; today, its share is just 6%. Nearly half of our power now comes from wind and solar. We are insulating homes and developing a carbon capture supply chain for our industry," Mitsotakis said in his address.

The Greek premier stressed that while Europe advances its sustainability goals, it must address the challenges posed by high energy costs and emissions taxes, which he warned are undermining the competitiveness of European companies.

"We cannot drive ourselves into industrial oblivion," Mitsotakis cautioned.

Mitsotakis outlined four urgent priorities for Europe: recognizing the trade-offs in the energy transition, promoting regulatory flexibility, unifying the European energy market, and supporting the adaptation of industry to climate objectives.

"We need a smart green course. The EU requires regulatory reset and a focus on priorities, particularly by eliminating emissions where reductions are easiest to achieve. We need more technological solutions and increased investments in energy networks now, rather than waiting for the 2050 climate targets," the Greek leader emphasized.