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In an open letter to the EU dated 29 June, the CEO Initiative for Europe's Recovery, Reform and Resilience dictated the principles and recommendations useful for rebuilding a stronger Europe in the short and long term.
Adherence to the "Next Generation EU" plan
Some of the largest multinationals in the world in various sectors, already signatories to the Paris agreement, have signed an open letter addressed to the Commission of the European Union to formalize their commitment in the "Next Generation EU" plan.
The 11 companies involved employ a total of 1,7 million people and generate revenues of over 600 billion euros. The plan presented by the EU Commission aims to launch short-term economies, but also to build a perspective for a resilient, digitized, prosperous and sustainable Europe for future generations.
The demand for an intelligent industrial policy framework
The letter lists some essential principles which should guide Europe's future choices in politics. The direction taken by the CEO Initiatives is focused on a digital and technological renewal in order to streamline and make transparent some processes already in place.
In addition to the request for immediately effective and sustainable preventive measures and tax reforms, the petitioners are asking for the removal of the bureaucratic obstacles to private investments in the new technologies sector and the support for digital technologies and sustainable finance.
In addition, they refer to new rules concerning transparency regarding the sustainability of EU initiatives and supply chains. The substantial and explicit request is that the European Green Deal is based on an intelligent industrial political framework that guides the structural changes necessary to achieve the objectives and is associated with enabling conditions for an industrial transformation.
The letter mentions the difficulties of the economic sector due to the Covid-19 pandemic, stressing that this does not adversely affect efforts to build a better Europe.
Renewable energy is a key point for the future
One of the key points of the letter is that concerning the energy sector, represented by Enel and e-on. In particular, it has been stressed that a rapid expansion of renewable energy capacity is the basis for the transformation of many other sectors. There is also a line of work aimed at strengthening smart electricity grids and encouraging the development of the charging infrastructure for electric vehicles.
Enel Spa is an Italian energy multinational, listed on the stock exchange. The company deals with ecological and sustainable plants through the Enel Green Power (EGP) group. At the time of writing, Enel shares are listed at € 7,87 on the Italian stock exchange, with a weekly performance of +2,75% and an annual performance of +25,78%.
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