Bruegel - Sparking Europe's New Industrial Revolution

"Sparking Europe's New Industrial Revolution" is a policy blueprint that offers a comprehensive plan for achieving net zero emissions, promoting growth, and building resilience in Europe's industrial sector. The report emphasizes the need for a new innovation-driven approach to industrial policy, with a focus on promoting sustainable technologies, fostering competition, and supporting the development of new industries. Key recommendations include investing in research and development, promoting public-private partnerships, and creating a supportive regulatory environment. The report also highlights the importance of addressing social challenges, such as job creation and inequality, in the context of the transition to a low-carbon economy. The report identifies six priority action lines, including key enabling technologies, clean vehicles, and smart grids. The report also includes action plans for specific sectors, such as steel. The report draws on the experiences of 13 countries that had managed to sustain high GDP growth since the 1950s, and identifies the common traits of successful cases. The report stresses the need for a comprehensive vision "mobilizing all the levers available at EU level, notably the single market, trade policy, SME policy, competition policy, environmental and research policy in favor of European companies' competitiveness". Overall, the report offers a roadmap for policymakers and stakeholders to work together to build a more sustainable, resilient, and innovative industrial sector in Europe, while addressing social challenges and promoting economic growth.