Rapporto della BEI sugli investimenti 2020/2021 - Risultati principali. Группа авторов

      

       EUROPEAN INVESTMENT BANK INVESTMENT REPORT

       2020/2021

      KEY FINDINGS

      Building a smart

      and green Europe

      in the COVID-19 era

       About the European Investment Bank

      The European Investment Bank is the world’s biggest multilateral lender. The only bank owned by and representing the interests of the EU countries, the EIB finances Europe’s economic growth. Over six decades the Bank has backed start-ups like Skype and massive schemes like the Øresund Bridge linking Sweden and Denmark. Headquartered in Luxembourg, the EIB Group includes the European Investment Fund, a specialist financer of small and medium-sized enterprises.

       About the Economics Department of the EIB

      The mission of the EIB Economics Department is to provide economic analyses and studies to support the Bank in its operations and in the definition of its positioning, strategy and policy. The Department, a team of 40 economists, is headed by Debora Revoltella, Director of Economics.

       Main contributors to this year’s report

      Report Director: Debora Revoltella

      Report Coordinators and Reviewers: Pedro de Lima and Atanas Kolev

       Key Findings

      Tessa Bending

       Disclaimer

      The views expressed in this publication are those of the authors and do not necessarily reflect the position of the EIB.

      The full version of the Investment Report 2020/2021: Building a smart and green Europe in the COVID-19 era can be downloaded at:

       www.eib.org/investment-report-2020

      Contents

       Introduction

       Post-pandemic: Stagnation or transformation?

       Investing for the climate transition

       Investing for digital transformation

       The green-digital nexus: How is Europe positioned?

       How has COVID-19 changed the economic landscape?

       Action for a green, smart and cohesive Europe

      Introduction

      Post-pandemic: Stagnation or transformation?

      Europe faces a choice. The recovery from the coronavirus pandemic provides a unique opportunity for transformation – the innovative retooling needed to thrive in the new, more digital world created by the pandemic, while also limiting climate change and preparing for its impact. It is an opportunity to set Europe firmly on a path to carbon neutrality by 2050 and shore up its global leadership in smart-green technology. It is an opportunity to repair the damage wrought by the pandemic and to strengthen social cohesion.

      Yet there is also a serious risk. The uncertainties and financial strains created by the pandemic could keep the EU economy from embarking on the necessary transformation. The dangers are numerous: massive public spending is too untargeted; Europe falls behind the new wave of digitalisation; it fails to make the transition fast enough; and it loses the advantages of its leadership in green technology. Failing to live up to these challenges means more than just a longer recovery. It means that Europe’s sustainability, competitiveness and prosperity might be impaired for decades to come.

      This report is about the investment needed to achieve the smart and green transformation of the European economy. It is about progress so far – the fallout from the pandemic and what is needed to get back on track. It examines the state of investment and investment finance for climate change mitigation and for the adoption of digital technologies. It looks at how Europe is positioned at the critical intersection of green and digital innovation, the role of investment by municipalities, and the risks and opportunities of the twin digital and green transition[1] for social cohesion. Throughout, the report examines the latest impact of the coronavirus pandemic and the urgent policy response needed.