Hong Kong, Hong Kong S.A.R. July 22, 2022 –(PR.com)– A recent report by Asia Pacific-based investment house, HM Wilkins Imperial, has revealed that investment in renewable energy to reduce Europe’s reliance on energy supplies from Russia will be crucial for the long-term economic growth and wellbeing of the zone.
The HM Wilkins Imperial report showed that, throughout Europe, there are growing signs of distress as the war in Ukraine rages on. More people are relying on food banks to feed their families. Authorities are begging households and businesses to conserve power. Food prices are rising and many energy intensive industries are wondering how they will survive if there is a complete shut off of Russian natural gas.
Russia has gradually choked off supplies off natural gas to Europe, in response to western sanctions against the invading nation, causing an energy crisis in Europe that could threaten manufacturing and industrial activity in the coming months.
“It is clear that a decisive move will need to be made by Europe. They must look at investment in renewable energy sources so that they can stop relying on Russian energy sources,” says Mr. Chang Chin Lung, Chief Executive Officer at HM Wilkins Imperial.
The EU has already announced ambitious plans for a massive increase in wind and solar power as well as a short-term increase in the use of coal to reduce the area’s reliance in Russian oil and gas as quickly as possible.
“In order to fund this admirable plan, the EU will need to come up with an additional €210bn by 2027. It is hoped that this will drastically expedite the switch to green energy,” said Mr Chang Chin Lung.
HM Wilkins Imperial
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