Energy, EU – Baltic States, Forum, Lithuania, Technology

“There is a need to double and even triple investments into research and development that promotes effective energy consumption and the expansion of renewables. We do not expect a fall in energy consumption so we need innovations that not only make energy supply secure, clean, reliable, and affordable but also provide a new impetus for the industry,” she said in an article published on the website of the World Economic Forum (WEF).

According to Lithuania’s President, who will attend the annual meeting of the WEF in Davos on Jan. 20–23, increased financial focus would help change the situation in the energy sector where much-needed energy start-ups are almost non-existent compared to those in IT, telecommunications or pharmaceuticals.

Downsizing the costs of clean energy is the first task if governments, business people and scientists want to see fossil fuels replaced, emissions downsized, consumers satisfied and climate change prevented, Grybauskaite said.

“The power of making miracles is in our hands. Let’s hope that with scientific research, investment in technologies and political commitment we will manifest a new miracle in the nearest future,” Lithuania’s President added.