92

The investments required for the transition in Europe are very substantial and mainly involve long-term investments, mostly in production units with high fixed costs. The financing model adapted to this profile requires securing financing from the market and finding investors ready to take on these long-term risks. For the transition to be acceptable, it is crucial that the profits accrue to European economic players, in particular through better management of their portfolio and investments in energy transition assets. JEL classification: Q48, Q49, Q58.