Lecture with Reinhilde Veugelers

Reinhilde Veugelers is a professor at KULeuven (BE), Senior Fellow at the Bruegel think-tank and member of the Royal Flemish Academy of Science and Academia Europeana. Her research focusses on industrial economics, international business and strategy, innovation and science.

Following an invitation from the Federation of Austrian Industries (IV) and the Schumpeter Society, Veugelers discussed the challenges many countries face in reconciling the various objectives of a green industrial policy, especially when these aims conflict with each other. The presentation focussed on the role of innovation in designing a successful green industrial policy that effectively combines these objectives. The presentation outlined principles for policy design that guide the innovation system and examined current trends in clean energy innovation and policy in the US and the EU.

Her talk covered both the history of industrial policy in Europe and how the shift towards sustainability emerged as one of the greatest challenges. It is a challenge at both EU and country levels to combine decarbonisation with economic growth, jobs and global competitiveness, especially if this is to happen in a resilient, sovereign, autonomous and secure fashion.

Professor Veugelers focussed on the central role of innovation policy in the green transition as many technologies are still at an early stage of development. She emphasised that these innovations are not only important for the decarbonisation goals, but also enable the development of long-term, sustainable competitive positions on the global markets as well as promote resilience.