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we need to get the entrepreneurial Spirit back in in Europe that could Supply the whole heat supply for frankfur in 2030 so it’s really just good business welcome to the big question the series from Euro News addressing some of the biggest topics on the business agenda I’m Hannah Brown and today I’m joined by CEO and president of danforce Kim fing so thank you very much for joining us we hear a lot about Europe struggling competitiveness and the Need For Less but better regulation to improve the situation but in your opinion what else can European businesses do to become more competitive so what can we do in in Europe I think there’s there’s several things we need to to do we need to get the entrepreneurial Spirit back in in Europe we we need to get Investments and and believe in the future back so we need to invest more change is cost money and I would like to say that you know in a denas perspective one of the big opportunities I I think we have uh when we talk competitiv is is really competitive decarbonization uh we we have it in our Deans in Europe we have the Technologies here and it can make a a very big difference on competitiveness and actually just to sum it up I I think it is also the right uh perspective for decarbonization because we we would not like to decarbonize and become not competitive and not being able to compete out there so can you give me a little example of exactly what does competitive decarbonization look like what I’m talking about is really this mainstream uh decarbonization and it is it starts with efficiency in our infostructure so first example could be sort of this Basic Energy Efficiency story is that today you know most electrical motors that are in all sorts of industrial applications uh are onof so it means either they run 100% or they stopped 100% that’s very inefficient if you combine it with a variable speed Drive yes Europe could save you know 10 billion Euro just for that one single base application and and you know it’s a huge saving and it’s all competitiveness in the end of the day and for the sector coupling where we use a lot of the excess heat being generated so that that would be uh take data centers they are are growing fast and the big the big thing here is how do we use Lo all that energy and if we would just integrate that excess heat being produced by the data centers in the proximity of Frankfurt that could Supply the whole heat supply for Frankfurt in 2030 right so it is very very powerful right that’s what we mean with competitive decarbonization for businesses that want to go down this path what do they need to be thinking about um to make this transition we are decarbonizing Danos as fast as we can and it’s going very well by the way uh we have very large size sites that are already carbon neutral today M so what they need to think about is to find all the projects where you have very short payback time so it’s really just good business so so when we decarbonize our large manufacturing sites for example we don’t do any projects that has a payback time with more than 3 years oh wow okay so it means you know de facto today denas is more profitable because we have been doing decarbonization projects and we actually have around 200 projects continuously running in the company example now we are sitting in the proximity of our of our big headquarter site where we have 250,000 square m on the roof we have there reduced 70% of our heat consumption and we are not less people are producing less there we have saved around 50% of our electricity consumption and of course that’s a lot of money and it’s money we can use for investing in Innovation or whatever we do with it right yeah that’s brilliant um and you you know you said that um you don’t do anything that takes more than 3 years to pay back you know that’s that’s quite a short return on investment so I mean do you think for maybe smaller businesses um it is feasible it is an investment that all businesses can can make yes it is and and I I think the challenge for po mono businesses is that you know if you’re are very small company you do not have the same resources as stanfor or or somebody else and therefore therefore it’s maybe hard to sometimes know exactly what you can do but the examples are there in all sectors there are great projects you can do do it’s the same story short payback time it make the company more competitive you know I think we have to be better in the different countries to actually maybe support MH uh the the smaller midsize companies with with the systematic approach and and the insights of how to like we try to do here in Denmark but it’s definitely something everybody can do okay brilliant and thinking about the Technologies needed um does everything that’s needed already exist or what still needs to come I would say back majority of what we need is here it’s existing we can do it especially if you talk about this base decarbonization or or the competitive decarbonization the short payback time that that is something we have already we can do it now we actually do it as we speak so I would say all the technology is there so I’m I’m not concerned about the technology I’m very concerned about the lack of consistent regulation because you know right now we have a a fast move on on launching Renewables I also think back to cop 28 it seems that we are almost trailing towards the tripling the Renewables by 2030 but we are not picking up on on Energy Efficiency and that is needed if we want to hit our targets right so so that that’s really the big thing and it’s also where we have the short payback times and so on so I think I think my concern is that that we do not have today uh an effective um and and longer term regulation and attractive incentive schemes where if some of our small companies they find the projects that they could maybe have a tax reduction or something that they could understand and and apply immediately right that’s what we need and and that’s what we arguing hard to get and so thinking about these targets if um you know kind of Regulation and incentives um get to the level that you know that you you’re suggesting do you think we will achieve targets on time or when do you think is a more feasible I I think we could achieve Targets on time I I think the the the power and the the knowledge is there I think what what is unfortunate right now is we have landed this stop and go so let me give you a few examples um you know EV Market in Europe is is right now in a distress or in trouble heat pump Market is down 50% in Germany year-over year actually I just saw a survey that uh where they looked at 10 largest heat P markets in Europe and um nine out of 10 uh are not seeing any any development in the heat pump side whereby we know it’s the most effective at least one of the most effective Technologies right we see it in large heat pumps and in industrial application because companies like dfor we commit to science-based targets and most comp large companies do that and that’s actually really growing fast large industrial heat pumps but if you go to the resent ential side it’s way down right the same for district heating it’s down and and therefore we we need to get that back on TR yeah brilliant thank you so much for your time today um it’s been really fascinating to talk to you on the big question thank you very much thanks for the invite [Music]
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