Industrial companies rely on low-cost and internationally competitive energy supplies. In the past, German industry has achieved this mainly with gas supplies, easily accessible lignite and oil – energy sources that are no longer readily available due to global tensions and the need to reduce CO₂ emissions.

As a consequence, companies are faced with sustained high energy prices in Europe. When this is combined with dependence on a few key suppliers of key raw materials, the sustainable and digital transformation of the German economy is threatened. Hence, an update of the country’s energy and raw materials sourcing strategy is urgently needed.

The good news is that Germany and its European neighbours have a once-in-a-century opportunity: If policy makers and businesses could learn from current mistakes and identify a stable model for energy and raw materials security the future could be free from the uncomfortable dependencies prevalent in recent times.

In our white paper Commodities security in a volatile world we have already examined dependencies relating to non-energy raw materials and developed first approaches to solutions. This white paper adds energy to the review and introduces further reflections on raw materials procurement.

How can Germany retain energy security (both availability and competitive prices) and at the same time reduce its dependence on fossil fuels? Why does successful transformation demand compromise on the goals of sustainability, resilience and competitiveness? And how could a strategic reserve for raw materials be established? These are among the questions that are investigated in depth in the white paper.