In September 2024, former European Central Bank President Mario Draghi unveiled his landmark report, setting out the barriers to Europe’s growth and offering concrete recommendations to overcome them. The Commission responded with the Competitiveness Compass, presented in January 2025, with 90% of its flagship initiatives directly inspired by Draghi’s most pressing recommendations.

One year on, the High Level Conference reviewed what has been achieved and what has changed. With more than half of initiatives already delivered and over €1 trillion mobilised across innovation, clean tech and security, Europe is moving forward—but challenges remain. The EU’s growth model continues to weaken, dependencies constrain its resilience, and vast financing needs weigh heavily on fiscal space.

The discussions focused on three priorities set out in the Draghi report and now central to the Commission’s agenda: closing the innovation gap in advanced technologies, charting a decarbonisation path that supports growth, and strengthening economic security. The conference highlighted Europe’s progress in areas such as AI, industrial policy, and energy, while stressing the urgency of greater speed, scale and intensity of action.

The message is clear: unity of intent and urgency of response are essential if Europe is to remain competitive, sustainable and sovereign in the face of mounting global pressures.