BMW Foundation
Executive Summary: Energy Security Hub 2026
Energy has become the defining issue with regard to Europe’s security, prosperity, and global influence. As an official partner of the Munich Security Conference, the BMW Foundation convened a total of 750 international leaders from business, policy, science, and civil society to address this challenge head-on. Over three days, the Energy Security Hub 2026 provided a vibrant forum for strategic exchange. The main focus was on how Europe can mobilize technology, strengthen competitiveness, and forge global alliances to build a resilient energy and industrial future.
“Energy security is no longer treated as a technical issue. It has moved to the very center of the Munich Security Conference,” said Katharina Reiche, Germany’s Federal Minister for Economic Affairs and Energy. Reiche delivered the opening keynote to a packed BMW Foundation Herbert Quandt Pavilion, just steps away from the main conference at the Hotel Bayerischer Hof. “Energy security is no longer treated as an appendix to geopolitics. It has become one of its foundations.”The Munich Security Conference 2026 took place in the fourth year of Russia’s war of aggression and after a year marked by tariffs and expansionist ambitions by the Trump Administration. Europe continues to be in the midst of its transformation from fossil fuels to renewable energy. At the same time, cyberattacks and physical attacks on power plants and grid infrastructure have become realistic scenarios that Europe must be prepared to defend against.For the first time, the Innovation Night on February 12 was kicked off by the Chairman of the Munich Security Conference, Wolfgang Ischinger. He expressed his satisfaction that, thanks to the Energy Security Hub, energy security has in recent years established itself on the MSC agenda. “Today, securing energy is one of the most important security issues I could think of,” he said. This is especially true at a time when Europe must defend itself against attacks on power plants and grid infrastructure, not only in Ukraine but also in Poland, Germany, and the North Sea.
“Energy security is no longer treated as a technical issue. It has moved to the very center of the Munich Security Conference."
German Federal Minister for Economic Affairs and Energy
There was therefore much to discuss at the BMW Foundation’s Energy Security Hub, which featured high-caliber panels, sessions, and workshops from early morning until the evening hours. Many essential questions were addressed, not least key issues affecting our prosperity, social cohesion, and democracy.
Mobilizing TechnologyImplementing and securing a robust European energy system
1. Transformation Amid Rising Demand
From that point onward, EU commissioners, CEOs, scientists, and leaders of think tanks and NGOs shared their expertise and discussed key questions. How can we build a stable and secure Europe-wide energy infrastructure? How can the alliance secure access to critical raw materials and strategic technologies? And how can the European economy regain competitiveness and become once again a leader in technology?
 "The BMW Foundation convened a total of 624 international leaders from policy, business, science, and civil society.")
The BMW Foundation convened a total of 624 international leaders from policy, business, science, and civil society.
Marc Beckmann
Dan Jørgensen, European Commissioner for Energy and Housing, joined a panel with German Minister Katharina Reiche.
Stephan Schaar
 "This high-level panel examined whether differing energy strategies can be integrated — turning national diversity into collective strength.")
This high-level panel examined whether differing energy strategies can be integrated — turning national diversity into collective strength.
Marc Beckmann
Energy Security Hub 2026 re-watch
In his keynote, Andreas Schierenbeck, CEO of the Swiss company Hitachi Energy, emphasized that energy demand was rising dramatically at the same time as the energy transition was underway. “The main drivers are electrified industrial production, electromobility, but especially AI and large data centers,” he said. He noted that a stable energy supply was closely linked to technological progress and economic growth.Several panelists stressed that the transition to renewable energy requires the rapid expansion and modernization of the power grid. Both firm and flexible capacity are needed to offset the natural fluctuations of wind and solar energy. A unified European grid would make a significant difference. Projects such as NordLink, however, show the long-term nature of such undertakings.
Wolfgang Ischinger, Chairman of the MSC, with BMW Foundation Board Members Heba Aguib (left) and Heike Schneeweis.
Stephan Schaar
BMW Foundation Herbert Quandt Pavilion at Lenbachplatz in the heart of Munich.
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Ian Bremmer, President and Founder of Eurasia Group.
Maria Leptin, President of the European Research Council (ERC).
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Sigmar Gabriel, Chairman of Atlantik-Brücke, former Federal Minister for Foreign Affairs and Vice-Chancellor of Germany.
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The BMW Foundation hosted a luncheon event at Hotel Bayerischer Hof, the venue of the MSC.
SchumannMunich Security Conference
Nicolas Peter, Chairman of the Supervisory Board of BMW AG, joined the luncheon entitled "The Tech Sovereignty Stack: Who Steers the Geopolitical Future?"
SchumannMunich Security Conference
Participants also included Andrius Kubilius, European Commissioner for Defence and Space.
SchumannMunich Security Conference
Henna Virkkunen, Executive Vice-President of the European Commission for Tech Sovereignty, Security and Democracy.
SchumannMunich Security Conference
Nicola Beer, Vice-President and Member of the Management Committee, European Investment Bank (EIB); former Vice-President of the European Parliament.
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Rania Al-Mashat, former Minister of Planning, Economic Development, and International Cooperation, Arab Republic of Egypt.
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Christian Bruch, Chief Executive Officer of Siemens Energy.
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Carsten Knobel, CEO of Henkel, in discussion with a participant.
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2. Innovation Night: Technologies and Market Access
At the Innovation Night (February 12), traditionally held on the first evening of the Pavilion, participants of the RESPOND Scaleup Program presented their cleantech companies. These included battery recycler Cylib, green hydrogen producer H2Pro, and the founder of traceless, a company developing compostable granulate for sustainable packaging. The founders’ pitches were moderated by William Chueh, Kimmelman Professor and Director of the Precourt Institute for Energy at Stanford University. “Thinking about how the innovation and industrialization ecosystems come together, boldly across the Atlantic Ocean, that is the real key challenge,” he said.In roundtables with industry experts and investors, the founders explored opportunities and obstacles on the path from functional technology to industrial production, a stage at which too many promising innovations in Germany and Europe fail. This is not due to a lack of creativity or expertise, said Heba Aguib, Member of the Board of the BMW Foundation Herbert Quandt: “Europe does not have an innovation gap, but it does have a scaling gap and an investment gap,” she said. However, she added that the lack of a clear strategy and coordination among EU member states remains a barrier for investors.
“Thinking about how the innovation and industrialization ecosystems come together, boldly across the Atlantic Ocean, that is the real key challenge.”
Kimmelman Professor and Director of the Precourt Institute for Energy at Stanford University
 "Gideon Schwich, Co-Founder of Cylip.")
Gideon Schwich, Co-Founder of Cylip.
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Anne Lamp, Founder and CEO, Traceless Materials.
Marc Beckmann
 "Applauding audience at the BMW Foundation Herbert Quandt Pavilion. at the BMW Foundation Herbert Quandt Pavilion.")
Applauding audience at the BMW Foundation Herbert Quandt Pavilion. at the BMW Foundation Herbert Quandt Pavilion.
Marc Beckmann
Strengthening CompetitivenessBuilding policy and financial frameworks to advance Europe’s industrial leadership
3. Competitive Energy Prices for New Growth
It is clear that the German and European economies depend on a stable energy supply to return to growth and remain competitive in the long term. In her keynote, Germany’s Federal Minister for Economic Affairs and Energy, Katharina Reiche, identified a central factor behind the weak economic outlook: with electricity prices averaging 44 cents per kilowatt hour, Germany is currently not competitive, especially when electricity costs 18 cents in the United States and 8 cents in China.The federal government is attempting to counteract this imbalance through various measures. Since February, grid fees have been subsidized and the electricity tax has been reduced for industry. At the same time, Reiche advocated greater openness toward additional carbon-neutral energy sources. “Diversification is not a luxury, it is a security necessity. It limits external dependencies, it prevents energy from being weaponized against our society, and it keeps our options open,” she said. She also argued against categorically excluding technologies such as nuclear Small Modular Reactors (SMRs).
4. Is Europe Suffocating under the Weight of Regulations?
The second day of the Energy Security Hub began with a wake-up call. Europe, warned Narendra Taneja, President of the Independent Energy Policy Institute in India, “is still sleeping very comfortably on a soft pillow.” Arguing that Europe has not yet fully recognized that the transatlantic alliance has shifted fundamentally, his advice to Europeans was: “Take care of yourselves.” He encouraged Europe to build new partnerships with emerging economies such as India, the Middle East, and African countries. At the same time, Europe must recognize that these nations are self-confident and growing rapidly, demanding partnerships on equal terms and fair access to the EU single market.The EU urgently needs greater unity in the face of aggressive trade policies by major powers and additional competitors, said Dan Jørgensen, European Commissioner for Energy and Housing. The 27 member states remain too focused on national interests “instead of setting the energy transition as a common goal and pursuing the best and fastest route to achieve it.” It should be clear by now that only a united Europe can succeed in the global competition.
5. Raw Materials and Technologies
Access to critical raw materials and rare earth elements is essential for grid expansion and the construction of power plants and wind turbines. Sovereignty can only be achieved if Europe becomes more independent in procurement and diversifies supply chains. The same logic applies to key components such as semiconductors and strategic technologies such as AI. Europe must not drift blindly into new dependencies. “We need technological leadership in critical infrastructure for our sovereignty,” said Michael Brigl, Head of Central Europe at the Boston Consulting Group, in his keynote on "Artificial Intelligence - Europe’s Friend or Foe?"Europe is currently not competitive in AI, as all major successful LLM models originate from the United States and China. While not disputing this point, Claudia Plattner, President of the German Federal Office for Information Security, criticized the narrow focus of the AI debate on LLM models. “What about machine learning, Industry 4.0 or AI-based analytical methods in medicine?,” she asked. Europe, she argued, is strong in these areas and has the potential to succeed globally.
German Launch of the Edelman Trust Barometer 2026
A session on Friday (February 13) marked the German launch of the Edelman Trust Barometer 2026, presented by Edelman in cooperation with the Atlantik-Brücke. The conversation explored how trust has been shaped by geopolitical disruption, societal polarization, and economic uncertainty – and how it can be actively rebuilt. The session focussed on the role of leadership across business, politics, and society in restoring confidence, legitimacy, and social cohesion in Germany. One chart (below) showed that optimism for the future wanes. Globally, just 32% believe the next generation will be better off, with the biggest declines in India (-13 pts), and China (-13 pts) over the past year. Alarmingly, only 8% of people in Germany believe that the next generation will be better off than today – a decline of 6 points compared to the previous year.
2026 Edelman Trust Barometer
Creating AlliancesForging global strategies to secure energy and democracy
8. Leap or Lose: The New Industrial Playbook for Europe
What would truly move the needle for European CEOs to stay, invest, and grow in Europe? A high-level session explored where Europe goes next and how industrial leaders and policymakers plan to get there. Europe’s CEOs face a defining challenge: remaining competitive amid high energy costs and global realignment. The discussion outlined the scale of this challenge, the strategies being deployed to turn it into opportunity, and the regulatory shifts needed to unlock growth. Bringing industrial leaders together with Jessika Roswall, EU Commissioner for Environment, Water Resilience and a Competitive Circular Economy, the session examined how CEOs are driving European competitiveness from the front lines. These are highlights of the discussion:
Markus Kamieth, CEO BASF
“For our industry, this is the worst time since at least 25 years. We have lost competitiveness in recent years, and we’ve lost it tremendously. In the last four years, 90,000 direct and indirect jobs in the chemical industry are already gone. The root cause is not China, it’s not the U.S., it’s not the Middle East, and it’s also not Russia. The main cause is the framework conditions in Europe. The increasing cost of carbon in Europe makes us completely uncompetitive against the rest of the world. All constructs to try to protect European industry against this imbalance are theoretically good constructs, but in practical terms will fail in the marketplace. At the end of the day, economics drive value chains out of Europe.”
Marie Jaroni, CEO thyssenkrupp Steel Europe
“In the steel industry, we are very used to cycles. We have bad years every five years. But now this is a structural crisis. We can’t wait two years and then everything will be good again. This will not happen. So we need structural answers: safeguard steel products, lower energy prices, and a little less bureaucracy would help. It’s very important for all of us to really act now.”
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Carsten Knobel, CEO Henkel
“We definitely need change and the courage to embrace change. One thing is clear: if we remove certain processes, they are not reversible. They are gone. The processes and the employees and the jobs are gone. It’s not just a job of politics. It’s a common job of society, of business, and politics. We need to bring the forces, the power, together. We are at an inflection point, and if we don’t act now, it will be too late.”
Jessika Roswall, EU Commissioner for Environment, Water Resilience and a Competitive Circular Economy
“We are living in very challenging geopolitical times. The good thing is that we know what to do. The sad story is that some of this will take some time. The main meetings I have with stakeholders all over Europe, big companies, small companies, the first thing they bring to my table is the regulation, the overburden, the administrative burden, so that is my main focus. We also know that we need to tackle climate change. The main issue for a policymaker and a government is to protect its people and to protect it from risk, including biodiversity loss, water scarcity and climate change. We need to work together to push each other to actually act faster.”
8. Greater Protection for Critical Infrastructure
“Trump’s greed for Greenland is not over,” said Ólafur Ragnar Grímsson, Chairman of the Arctic Circle and former President of Iceland, opening the panel “Northern Lights.” "Just today the White House posted a Valentine’s Day card. In the middle of the heart, there is a map of Greenland — crazy!”Greenland, a part of Denmark and the EU, possesses enormous renewable energy resources. Its hydropower and wind potential far exceed domestic demand. Greenland also holds more than twenty strategically important rare earth elements and metals such as copper and nickel, which are essential for grid expansion, battery storage, and wind turbines.At the same time, Europe faces concrete security threats in the Arctic. Russia conducts cyber operations and reconnaissance activities in Arctic waters. “We are closely monitoring Russian submarine activity near our undersea cables for energy and the internet. And we are keeping track of every move,” said the Norwegian Minister of Defense Tore O. Sandvik. One of the longest subsea cables, NordLink, runs through Norwegian territory and supplies German households with hydropower. Europe must not ignore these risks, warned Leif Johan Sevland, President and CEO of the Offshore Northern Seas (ONS) Foundation. “Europe must not make the mistake of underestimating the size, importance, and complexity of the Arctic,” he said.
“We are closely monitoring Russian submarine activity near our undersea cables for energy and the internet. And we are keeping track of every move.”
Norwegian Minister of Defense
Ólafur Ragnar Grímsson, Chairman of the Arctic Circle and former President of Iceland.
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Northern Lights: Energy Security in a New Era for the Arctic" session.
Marc Beckmann
7. Net Zero Remains the Goal
These are turbulent and challenging times. The best protection, according to many panelists, is a united and confident Europe with a clear master plan for energy security and economic growth. Only then can the necessary investments for a climate-aligned future be realized.Net zero remains the goal. However, many speakers advocated a more pragmatic use of diverse technologies, including nuclear SMRs, to restore competitiveness during the transition. Germany and Europe need growth to sustain domestic industry and jobs. Protecting employment and lowering energy prices are crucial for public acceptance of the energy transition. In a democracy, citizens are the most important stakeholders. Ultimately, voters decide whether to grant policymakers the mandate for an ambitious climate policy.
Labeled trucks advertising the program at the BMW Foundation Pavilion in the city center.
Stephan Schaar
8. Key Takeaways
- Energy Security as the Key to Europe’s Prosperity
Europe’s long-term economic strength depends on its ability to meet rising energy demands while lowering energy costs, protecting critical infrastructure, and securing reliable access to key raw materials and strategic technologies. Energy security and competitiveness are no longer separate objectives – they are mutually reinforcing pillars of resilience, sovereignty, and sustainable growth, forming the foundation of a future-proof society. - Europe Must Keep Pace with Major Powers
Outside the U.S.-China rivalry, a growing group of geopolitically influential states is leveraging great-power competition to expand its strategic control over energy, technology, and critical supply chains. To remain competitive and avoid losing ground, Europe must step up its efforts and assert its role in this evolving landscape. Europe needs the world, and the world needs Europe.
- Joint Strategies for a United European Powerhouse
Europe remains one of the world’s most attractive markets and a global economic powerhouse, home to world-class universities, leading research institutions, innovative companies, and deep capital markets. The challenge is not a lack of assets, but a lack of alignment and too little willingness to compromise in pursuit of greater unity. - Improving Frameworks for Scalable Net-Zero Technologies
To remain competitive, Europe must improve its ability to scale cleantech at industrial pace and establish clear guardrails for breakthrough technologies such as artificial intelligence and fusion energy. Greater unity and stronger coordination among EU member states are essential to translate Europe’s strengths into global leadership and ensure long-term prosperity.
- A European Energy Masterplan Using All Technologies
The goal remains clear: achieving net zero while strengthening Europe’s industrial base. This requires a diversified European energy master plan that accelerates the transition while ensuring stability, affordability, and broad and durable public support. Renewable expansion must be complemented by firm and flexible capacity to guarantee reliability. Until a fully integrated European power grid is in place, Europe must remain pragmatic and open to all viable technologies – including Small Modular Reactors (SMRs) – to bridge supply gaps, safeguard competitiveness, and support a resilient, future-proof society.
The New York Times Debate: Is Democracy Too Slow for the AI Race?
A full house cheered, laughed, and roared as an intellectual joust unfolded on stage on Saturday afternoon. In collaboration with the BWM Foundation, The New York Times brought "Debatable" to the Energy Security Hub with the motion: Is Democracy Too Slow for the AI Race? Stephen Dunbar-Johnson, President, International, The New York Times, kicked things off before passing the mic to Katrin Bennhold, host of "The World," to guide the audience through the fantastic session.Like true top debaters, the teams not only argued for and against the motion but also questioned its very framework. If it’s a race, what is the finish line? What do you win? The room filled with laughter and applause as the debate heated up. In the end, democracy won as the audience crowned the team arguing against the motion the winner.
Stephen Dunbar-Johnson, President, International of the New York Times Company, explained the debate format.
Marc Beckmann
The audience followed the debate closely.
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Parag Khanna, Founder and CEO of AlphaGeo, argued against Arancha Gonzalez Laya, Dean of the Paris School of International Affairs (PSIA), Sciences Po and former Minister of Foreign Affairs, Spain.
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Wendy Chang, Senior Analyst of Mercator Institute for China Studies, and Dmitri Alperovitch, Co-Founder and Chairman of Silverardo Policy Accelerator.
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The team talking with each other during the break.
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Katrin Bennhold, Host of "The World" of The New York Times, moderated the debate.
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The jury shared feedback.
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Meredith Whittaker, President of the Signal Foundation, was part of the jury.
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Claudia Plattner, President of the German Federal Office for Information Security (BSI), argued against the motion.
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Lights on! Inside the BMW Foundation Herbert Quandt Pavilion.
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