Innovation & Technology

Greening the economy is the Hungarian government’s key priority

Green technologies are vital for the Hungarian economy.

At the GreenTech 2021 Green Energy, Sustainability Exhibition and Conference, Minister of Innovation and Technology László Palkovics spoke about the fact that green technologies are of key importance in the areas that will determine the next decade of the Hungarian economy.

“Our goal is not only to show the technological trends that determine the world’s industrial production in Hungary but also to develop and manufacture them here so that all this serves the Hungarian economy,” Palkovics said.

He mentioned that Hungary will have the second-largest production capacity in Europe in the field of battery technologies in two years, mainly due to increasing investments in car factories.

He said that a number of projects have been launched lately or are being launched to green the economy, including energy storage solutions or reducing carbon emissions from public transport.

Starting in 2022 only carbon-neutral buses will be available in Hungarian cities with a population of more than 25,000. He pointed out that one of the most effective ways to green transport is to develop railways. The Hungarian government aims to rebuild the sector, so in the next eight years, Hungary will spend about HUF 2 trillion on railway vehicles, most of which must be emission-free, he said. 

The greening of steel production, which has a significant impact on the environment, is also a serious task, and electricity and hydrogen must play a greater role as well; otherwise, the Hungarian steel industry will not be competitive, Palkovics said. 

He also explained that one of the elements of Hungary’s hydrogen strategy is to find solutions for its storage and transportation. Hydrogen, which is currently produced by converting excess electricity, could even be stored in existing gas storage facilities.

Lastly, innovation is central to creating a circular economy, including in the area of waste management, namely to be able to recycle waste in a controlled and efficient way.

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