Press Release

Brussels, 9th September 2024

The final text of The Future of European Competitiveness report was officially presented today by former Italian Prime Minister Mario Draghi and incoming European Commission President Ursula von der Leyen.

The report, which was highly anticipated, involved extensive consultations with stakeholders across all sectors of society to identify major barriers to competitiveness in Europe, and offers concrete recommendations to tackle obstacles to innovation, high energy prices, funding needs, regulatory simplification, and the urgent need for digitalisation and defence capacities.

Hydrogen Europe CEO Jorgo Chatzimarkakis credited Mr Draghi’s work, commenting: “This report is exactly what Europe needs today: a strategic and concrete — and perhaps radical — approach to address climate change, technological disruption, energy costs, and Europe’s economic resilience. It once again highlights that an EU Clean Industrial Deal, which will help Europe to decarbonise while remaining competitive, must be a top priority of this new EU cycle. Decarbonisation can be a catalyst, rather than a hindrance, for Europe’s industrial revival, with hydrogen and its technologies key elements in this transformation.”

Hydrogen is recognised in the report as a transformative technology that will play a pivotal role in driving European competitiveness. Due to the structural changes that Europe will face in the upcoming decade, the hydrogen sector should build upon and extend frameworks that have proven to be effective, such as the Hydrogen Bank and Hydrogen Valleys, but also bring elements of novelty and rationalisation when it comes to legislation, governance and the financial firepower to achieve ambitions.

Daniel Fraile, Chief Policy Officer at Hydrogen Europe, added: “We are happy to see that the report brings a technology-neutral approach to rebuilding EU competitiveness, recognising hydrogen’s importance to decarbonisation alongside other solutions. Hydrogen Europe advocates for a strong, common effort to provide the financial means to this unprecedented transition and to consider all clean hydrogen technologies as crucial for revamping the EU’s industrial core. Pooling investment capacity across various levels of the EU will be essential to deploying the clean tech needed to reach climate and energy targets.”

Hydrogen Europe is calling on the EU institutions, particularly the upcoming European Commission and Member States, to demonstrate strong commitment and synergies to push for clear, ambitious objectives to position hydrogen as a cornerstone in energy, industry, and competitiveness policies for the next political cycle. This must be done cooperatively with other key net-zero sectors.

For more information:

EC’s EU competitiveness: Looking ahead

The future of European competitiveness Part A | A competitiveness strategy for Europe

The future of European competitiveness Part B | In-depth analysis and recommendations: