Teresa Garcia-Milà, Vice President of the Cercle d’Economia, justified the session’s title by the strategic relevance for the present and future of the European Union (EU) of the convergence between the climate imperative and the strengthening of the industrial sector. After introducing the speakers, she gave the floor to Teresa Ribera, Executive Vice President of the European Commission for a Clean, Just and Competitive Transition.
The Competition Commissioner stated that the Cercle d’Economia Meeting has become, with its 40 editions, an “essential event” for Catalonia, Spain, and Europe. She advocated for predictability and stability, “keys to investment and the modernization of the productive fabric,” which have become a fundamental asset in a “volatile global context” marked by armed conflicts, pressures on raw materials, and trade tensions. She pointed out that “Europe, with its apparent institutional boredom, has proven to be a pillar of stability.” “The transformation of global trade, environmental constraints, and pressure on resources require an integrated response: it is not about choosing between a green agenda and an industrial agenda, but about combining them intelligently,” she said.
In her speech, she indicated that “security, competitiveness, and values” are the three priorities of the new European mandate on which a Green Industrial Pact is built to create a favorable environment for investment, guarantee affordable energy, reduce dependencies, and promote a circular economy. “It is essential to train workers in green and digital skills, generate demand for innovative products, and ensure fair access to strategic raw materials,” she said. From this perspective, she believes Europe must strengthen its internal market, mobilize public and private investment, and leverage its own savings to finance its transformation. “Key sectors such as automotive, steel, or semiconductors must lead this evolution without falling into trade wars or relaxing standards.”
Ribera showed support for “very significant investment in networks, which must be much more meshed, digital, and capable of managing a different energy model.”
Embracing technological progress, but with flexibility
Regarding decarbonization goals, Garcia-Milà introduced Luca de Meo, CEO of Renault Group. The executive focused his intervention on the “need to embrace technological progress, especially the electrification of the automotive sector,” although he admitted that the targets set may be “unachievable” under current conditions: “If approaches or technologies are not made flexible, the European market could shrink drastically,” he said. He defended the idea of “technology neutrality” and broad investment in innovation: batteries, hydrogen, hybrids, and zero-impact fuels. He highlighted that Europe is the only region where the automotive market has not recovered from pre-COVID levels – “which forces companies to restructure” – and that the current methodology for calculating emissions (from tank to wheel) is insufficient and that, for this reason, in his opinion, it should be done based on a full vehicle life cycle calculation. The CEO warned of the loss of purchasing power of the middle class, which “can no longer access new vehicles,” a fact that “ages the vehicle fleet and worsens total emissions.”
Regarding Jeromin Zettelmeyer, director of Bruegel, the moderator asked about the EU’s comparative position relative to the United States and China. He stated that “Europe will remain a superpower in the automotive sector” and that this is relevant because it is a “key and interconnected” industry. He admitted the existence of “greater competition” than in previous stages, which forces the acceptance that “we will lose market share.” He advocated for technology and specialization to overcome the challenge, in dynamics that must arise from the industry itself because, in his view, the State will not abandon regulation. And although he defined himself as a supporter of free trade, he proposed to Ribera the “temporary use of tariffs” because “we cannot afford to lose our industry.”
Competitiveness Compass: innovation, decarbonization, and competition
Regarding the EU Competitiveness Compass to boost innovation, decarbonization, and security (axes also highlighted by Italian Mario Draghi in his report), Ribera emphasized the importance of setting “priorities” according to final budget availability. Luca de Meo demanded “administrative speed” to avoid unwanted complexities or obstacles, and Zettelmeyer expressed concern about the possibility of relaxing state aid rules, as this could represent a “problem for competition,” he warned.
Session moderated by Teresa Garcia-Milà, Vice President of the Cercle d’Economia
Teresa Ribera, Executive Vice President of the European Commission for a Clean, Just and Competitive Transition and Commissioner for Competition
Luca de Meo, CEO of Renault Group
Jeromin Zettelmeyer, Director of Bruegel
