The EU's Efforts to Cut Right Tape Would Accelerate Investment

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Elisabetha: In certain sectors certainly there's a bit of cheap talk as well in the sense that, for example, if you think about the value chain of electric vehicles and batteries for these cars. So I understand the concern about losing out on investments but that's why it's tricky for the EU to be in a way also cold-blooded in identifying strategic sectors than its support.

The energy transition is prompting policy changes worldwide as governments seek to mobilize the trillions of dollars needed to transform their economies. For example, in 2022, the U.S. signed into law the Inflation Reduction Act, a comprehensive energy and climate law that allocates $370 billion in federal spending to decarbonization efforts over the next decade.

In this episode of the ESG Insider podcast, we’re turning our attention to the European Union and digging into the Green Deal Industrial Plan. The European Commission proposed the plan earlier this year to boost investment in clean-tech industries and to make the EU more competitive globally amid the transition to a low-carbon economy.

To learn about the EU’s strategy, we talk to Elisabetta Cornago, Senior Research Fellow at the Centre for European Reform, a think tank.

“The IRA was a bit of a call to action for the EU,” Elisabetta tells us.

We also speak to Hayden Morgan, Partner and Head of Sustainable Finance Advisory at Pinsent Masons, a multinational law firm headquartered in London. And we hear from Brian Hensley, Partner at climate advisory firm Kaya Partners.

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