European policymakers and business leaders have decided to return to corporatism, fostering closer relationships between business and government. At a recent Brussels meeting, CEOs discussed simplifying ESG rules, clean energy independence, an industrial AI strategy, and creating uniform operating conditions across Europe. Jesper Brodin of IKEA noted that individual company engagement with the EU was time-consuming, hence the agreement for biannual CEO meetings with top European Commission officials. This strategy aims to enhance the competitiveness of European multinationals, which have been declining on Fortune's Global 500 list for over a decade.
At a meeting in Brussels last week, several dozens of CEOs of Fortune 500 Europe companies met with European Commission President Ursula von der Leyen and four of her deputies. They held an open-ended discussion that touched on simplifying and delaying ESG rules, recasting clean energy as a matter of European independence, crafting an industrial AI strategy to compete with the US, and creating a single regime for companies to operate all over Europe.
Jesper Brodin, CEO of Ingka Group (IKEA), stated that the previous process required each company to separately engage with the E.U. and member states, which was time-consuming. The new agreement for biannual meetings aims to streamline this process.
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