20 September 2024

IIGCC: How the Draghi report on European competitiveness lines up with investor recommendations

The lengthy report sets out a vision for a “new industrial strategy for Europe”. Critically, the transition to net zero is identified as one of the central drivers of the EU’s future economic growth and competitiveness.

 But to capitalise on the opportunities presented by the transition, Draghi emphasises the need to pursue the goals of the Green Deal in tandem with innovation, re-industrialisation and boosting resilience. 

The proposals provide a comprehensive basis for the development of a “Clean Industrial Deal”, which von der Leyen has committed to progressing in the first 100 days of her second mandate. Our recent insight covers those priorities in more detail. 

The report – nearly 400 pages long – proposes a wide range of ‘horizontal’ recommendations to create the right conditions to stimulate flows of private finance and close investment gaps, alongside actions to address sector-specific issues.  

We assess the key recommendations against IIGCC’s EU Call to Action, which sets out investor-led recommendations to accelerate progress against the EU’s climate goals across five thematic pillars.  

Decarbonisation and competitiveness 

‘The only way to ensure the long-term competitiveness of the EU is to shift away from fossil fuels and towards a clean and competitive economy’, President von der Leyen said at the report’s launch event.  

Several of the recommendations set out in the Draghi report align closely with IIGCC’s call to reframe climate action in the context of greater industrial competitiveness. Decarbonising the energy system is highlighted as one of the central means through which the EU can do this. ...

 more at IIGCC (Institutional Investors Group on Climate Change)