The EJOT magazine
Dear partners of the EJOT Group,
Crisis is the metaphor that runs like a common thread through this autumn issue of our “moment”. After the COVID pandemic, the subsequent supply chain problems, the Russian invasion of Ukraine and the associated energy crisis, we thought that we could get back into calmer waters. This turns out to be a fundamental misconception, as Prof. Dr. Henning Vöpel from the Centre for European Policy (CEP) thankfully points out in an editorial for this issue. The CEP is the think tank in Germany for all European policy issues. We at EJOT are a supporting member because Europe accounts for 80 per cent of our business. If we know today that we in Europe are affected by more than 13,000 regulations, while American companies are only affected by around 3,000 regulations per year, then we realise how important it is to monitor these political activities.
Our old geopolitical, industrial, technological, and climate-related world is in turmoil at many points, says Prof. Dr. Vöpel. This polycrisis is a description of German and European reality. In government and society, we see this in election results. Even crude nonsense finds a following today. In the economy, we recognise the excessive demands placed on European industry by well-intentioned regulation. The consequences can be seen in the automotive industry, the heart of German and European industry. Fines for expected CO2 consumption are estimated to amount to 15 billion euros in the coming year. And these fines could lead to an artificial decrease in demand for cars, which is already weak, if car manufacturers reduce the number of combustion models to avoid high fines. This would then also pull the supplier sector downward. A vicious circle of regulation and subsidisation threatens. Prof. Dr. Vöpel asks why we do not trust the market mechanisms that have created our prosperity more firmly? The examples of German or European “industrial policy” are certainly not encouraging. No better solution can be found at the “green table” (= where bureaucratic decisions are made that bear little relation to reality and practice) than through the market with its infinite number of price mechanisms.
However, this issue also addresses other points in Vöpel’s editorial: the climate crisis and the technological upheaval that artificial intelligence is bringing to our lives and economies. Both are important activities for our group, as we demonstrate with our RECARB solution for CO2-reduced steel and the almost “fairytale” connection to bionero. Offers with which we can all – industry and consumers – contribute to a low CO2 future.
Yours sincerely
Christian F. Kocherscheidt
Managing Director
Crisis is the metaphor that runs like a common thread through this autumn issue of our “moment”. After the COVID pandemic, the subsequent supply chain problems, the Russian invasion of Ukraine and the associated energy crisis, we thought that we could get back into calmer waters. This turns out to be a fundamental misconception, as Prof. Dr. Henning Vöpel from the Centre for European Policy (CEP) thankfully points out in an editorial for this issue. The CEP is the think tank in Germany for all European policy issues. We at EJOT are a supporting member because Europe accounts for 80 per cent of our business. If we know today that we in Europe are affected by more than 13,000 regulations, while American companies are only affected by around 3,000 regulations per year, then we realise how important it is to monitor these political activities.
Our old geopolitical, industrial, technological, and climate-related world is in turmoil at many points, says Prof. Dr. Vöpel. This polycrisis is a description of German and European reality. In government and society, we see this in election results. Even crude nonsense finds a following today. In the economy, we recognise the excessive demands placed on European industry by well-intentioned regulation. The consequences can be seen in the automotive industry, the heart of German and European industry. Fines for expected CO2 consumption are estimated to amount to 15 billion euros in the coming year. And these fines could lead to an artificial decrease in demand for cars, which is already weak, if car manufacturers reduce the number of combustion models to avoid high fines. This would then also pull the supplier sector downward. A vicious circle of regulation and subsidisation threatens. Prof. Dr. Vöpel asks why we do not trust the market mechanisms that have created our prosperity more firmly? The examples of German or European “industrial policy” are certainly not encouraging. No better solution can be found at the “green table” (= where bureaucratic decisions are made that bear little relation to reality and practice) than through the market with its infinite number of price mechanisms.
However, this issue also addresses other points in Vöpel’s editorial: the climate crisis and the technological upheaval that artificial intelligence is bringing to our lives and economies. Both are important activities for our group, as we demonstrate with our RECARB solution for CO2-reduced steel and the almost “fairytale” connection to bionero. Offers with which we can all – industry and consumers – contribute to a low CO2 future.
Yours sincerely
Christian F. Kocherscheidt
Managing Director
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