Clear road ahead for Europe’s industrial future?

Clear road ahead for Europe’s industrial future?

CDP's contribution to the European Union's new industrial strategy

Cassa Depositi e Prestiti reinforces its commitment in Europe, contributing to the debate on a new EU strategy for industrial policy.

On 14 October, in collaboration with the CEPS think tank, CDP organised an event in order to present the final report of the Task Force on European Industrial Strategy. With eight working groups dedicated to different themes, more than 25 meetings and over 200 participants, the Task Force identified 105 policy recommendations for a competitive, resilient and sustainable European industry.

The event (which can be watched on the CEPS YouTube channel) was an important opportunity for discussion and reflection, in the presence of leading representatives from European and international institutions including Maive Rute, Deputy Director General of the European Commission DG GROW, Miapetra Kumpula-Natri, member of the European Parliament, and Sharan Burrow, General Secretary of the International Trade Union Confederation. 

During the presentation, which included speeches from Cinzia Alcidi and Andrea Renda from CEPS and from Andrea Montanino, CDP’s Chief Economist, the main indications regarding policy contained within the report were illustrated, highlighting the fact that the European industrial strategy will necessarily have to respond to social challenges, contribute to the digital and green transition and promote EU values, whilst simultaneously ensuring that European industry remains competitive.

The latter of these is an important theme, and one which must be bolstered by leveraging the numerous instruments introduced by the Commission, from industrial alliances to IPCEIs (Important Projects of Common European Interest), the Horizon Europe programme and policies designed to support specific sectors. In addition, the need emerged for the strategic choices for Europe's industrial future to be shared at Community level, in order to foster a cooperative and coherent approach between Member States, for the benefit of the entire European Union. These choices must be made in compliance with the European social model, ensuring that the rules regarding environmental and worker protection are respected in each link of global value chains.

Finally, Andrea Montanino drew attention to the main trends that will affect future industrial choices, from climate change and digitalisation to the regionalisation of value chains and the new geopolitical context. CDP's Chief Economist suggested a pragmatic approach to the industrial policy that can guarantee the so-called “open strategic autonomy of the Union on the one hand, whilst ensuring a sufficient level of cooperation between Member States on the other, in order to create European champions that can support small and medium-sized local enterprises.