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The EU has committed to a joint recovery centred on green and digital transition. The extent to which this will mitigate the risks of rising inequalities and rising divergences across firms and regions depends not least on support for cohesion. Data coming from the EIB Investment Survey provides a unique tool to gain insights on how non-financial corporates in different regions are behaving. EIBIS information sheds new light on investment needs and gaps, financing requirements as well as firm activity on innovation, digitalization and climate change. EU Cohesion Policy aims to strengthen economic, social and territorial cohesion across the European Union and to correct imbalances between countries and regions. The green and digital transition are key priorities of Cohesion Policy for the next years. Cohesion support 2021-2027 is focused on five key policy objectives to support growth: - A more competitive and smarter Europe - A greener, low-carbon transition towards a net zero carbon economy - A more connected Europe by enhancing mobility - A more social and inclusive Europe - A Europe closer to citizens by fostering the sustainable and integrated development of all types of territories. EU funds will support investment across these policy objectives with a particular focus on a smart and green Europe. However, the COVID-19 pandemic risks deepening divergences between citizens, territories and firms. Firms across the EU will need to adapt to the post-pandemic environment and megatrends, notably digitalization and climate change, to stay competitive looking ahead. The EU has committed to a joint recovery centered on fostering the transition towards a greener and smarter economy across the EU. The extent to which this will mitigate the risks of rising inequalities and divergences across firms depends not least on support for cohesion. Data coming from the EIB Investment Survey (EIBIS) provides a unique tool to gain insights on how non-financial corporates in cohesion and non-cohesion regions are behaving. EIBIS information sheds new light on investment needs and gaps, financing requirements as well as firm activity on innovation, digitalization and climate change.
Using the results of the EIB Investment Survey, this report examines how business investment cross Europe's regions was affected by the COVID-19 pandemic, how firms responded, how their structural transformation is progressing. Support for economic, social and territorial cohesion has always been a central goal of the European Union. Much progress has been made. However, large-scale economic shocks have often worked to exacerbate differences between regions. Cohesion policy can help prevent such effects strengthening resilience and supporting transformation, with a focus on regions that are less developed or in transition. This report assesses which regions are leading in transformative investments, such as those concerning innovation, digitalisation and sustainability. Using the results of the EIB Investment Survey, it examines how investment was affected by the COVID-19 shock, how firms responded to it and how they have progressed towards deeper structural transformation. In doing so, it also provides information on investment needs and gaps across regions and the challenges firms are facing, with a particular focus on transformation.
The Open Access version of this book, available at http://www.tandfebooks.com/doi/view/10.4324/9781315401867, has been made available under a Creative Commons Attribution-Non Commercial-No Derivatives 3.0 license. This book brings together academics, members of European institutions, and regional and national level policymakers in order to assess the performance and direction of EU Cohesion policy against the background of the most significant reforms to the policy in a generation. Responding to past criticisms of the effectiveness of the policy, the policy changes introduced in 2013 have aligned European Structural and Investment Funds with the Europe 2020 strategy and introduced measures to improve strategic coherence, performance and integrated development. EU Cohesion Policy: Reassessing performance and direction argues that policy can only be successfully developed and implemented if there is input from both academics and practitioners. The chapters in the book address four important issues: the effectiveness and impact of Cohesion policy at European, national and regional levels; the contribution of Cohesion policy to the Europe 2020 strategy of smart, sustainable and inclusive growth; the importance of quality of government and administrative capacity for the effective management of the Funds; and the inter-relationships between institutions, territory and place-based policies. The volume will be an invaluable resource to students, academics and policymakers across economics, regional studies, European studies and international relations.
The only comprehensive text available for advanced study and professional reference, this book brings much needed clarity to both the theoretical and practical aspects of EU intervention. Integrating both theoretical and practical research in a clear and accessible structure, covering economic, social and territorial issues European Cohesion Policy provides a systematic view of the various stages of the whole policy cycle, looking in detail at: the evolution of the problems the design of the policy system the implementation in practice the evaluation of effects . An authoritative analysis of the problems and debates involved, European Cohesion Policy is essential reading for students, policy makers, development workers and researchers working in all aspects of European policy.
The COVID-19 pandemic plunged the EU into its worst-ever recession and risks increasing inequalities, notably between regions. Thanks to a bold and innovative policy response, including a common instrument to finance national recovery plans (Next Generation EU), growth is rebounding, but ambitious reforms will be essential to heal the scars of the pandemic and succeed in the green and digital transitions.
In 2013, the EU committed to spending at least 20% of its 2014-2020 budget on climate action. In view of the EU's commitments under the Paris Agreement, this target is set to increase to at least 30% in the 2021-2027 period. With EUR 355.1 billion delivered through the European Regional Development Fund (ERDF) and the Cohesion Fund (CF), Cohesion Policy amounts to almost one third of the EU's 2014-2020 budget. It also represents a major source of public investment, in particular in the less-developed regions of Central, Eastern and Southern Europe. Cohesion Policy can therefore play a key role in supporting EU climate objectives and its transition to climate neutrality. This briefing reviews the state of play of climate spending in the 2014-2020 EU Cohesion Policy and the prospects for the post-2020 period.