Europe’s pioneers in green technology face a first-mover “disadvantage” that needs to be eliminated for the continent to compete with China and the US, a leading European industrialist has said.
Vincent Clerc, chief executive of Danish container shipping giant AP Møller-Maersk, told the Financial Times that both Beijing and Washington offered subsidies to ensure companies had no incentive to wait on the “highly complex” move of polluting industries cutting emissions.
In Europe, however, the incentive was to “try and wait”, Clerc said in an interview with the Financial Times.
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