Climate Change Adaption: Business Opportunity of the Century
At a height of 160 metres, the arm of a small crane swings above the ground. The people down on the ground can hardly be seen from up here. They are anyway only spectators of a new process that is about to make history. The crane stands on the back of a wind power plant in Elsterheide, Germany. The wind on top of the wind turbine causes trees to sway, but the crane places its 45-ton freight safely in the belly of the turbine's nacelle. It is a new gearbox and the first time in Europe that an automatically operated crane has replaced it. The people down on the ground cheer as the transmission is installed. The Danish company "Liftra" now saves its customers 20 percent of the costs with every change and ultimately supports a cleaner climate.
"It only works with the economy," said Ulrike Rabmer-Koller, Vice-President of the Austrian Chamber of Commerce at the United Nations Climate Change Conference in Poland, saying that the fight against climate change must also be a matter for the economy. Climate change is seen as the greatest business opportunity of the century. That's why they now want to promote solidarity between politics and business. Wilhelm Molterer, Vice-President of the European Investment Bank, has something very special in mind. He wants to support companies in the EU where they are not yet considered "bankable", i.e. rejected by banks. His partner is the private sector.
Guarantees for disruptive ideas
It is about venture financing for highly innovative companies through elements of the new European Innovation Council (EIC) and the forthcoming 9th Research Framework Programme (FP9) of the EU. The European Investment Bank will also play a role and guarantee securities together with national states. Vice President Molterer calls this "Smart Money". The "real" money, on the other hand, comes from the private sector, which can use the collateral to invest in new, disruptive ideas. The fact that this will not remain a cloud-castle The fact that this will not remain a cloud-castle is already proven by the visit of renowned investors such as Hermann Hauser to a kick-off meeting in Vienna, the "Innovative Enterprise Vienna" 2018. In his keynote speech, Hauser speaks of a "crowding-in" by private investors.
A disruptive product is often too risky for an investor alone. However, the umbrella of the Commission and the new financial instruments could motivate him to invest in new ideas between research and market entry. This has already happened to Danish company "Liftra". The automatic lifting cranes for wind turbines have been supported by the new investment fund "InnovFin" from the EU and the private sector. Europe now has an alternative to the first automatic cranes for wind turbines in the USA. It understands climate change as a large enterprise that can of course also be used to earn money and makes its contribution to a more sustainable economy.