One year after its publication, the Draghi report continues to hold significant influence in the EU policy landscape. Unveiled in September 2024, the report on the future of EU competitiveness warned of a global context characterised by growing competition, geopolitical tensions, and a general slowdown in the global economy. In light of these challenges, as well as a widening productivity gap, particularly between the European Union and the United States, former Italian Prime Minister Mario Draghi called for a focus on sustainable growth, digital technologies, and decarbonisation, while reducing dependencies on other economies, boosting research and innovation, cutting regulatory burdens, and defragmenting the Union. Among his boldest and most discussed proposals, he suggested unlocking €800 billion in new investments through joint debt. 

While his timely analysis, released just before Ursula von der Leyen began her second term as President of the European Commission, became highly influential in EU policy circles, several recent studies have highlighted the limited progress in implementing its recommendations after one year. A September 2025 Audit from the European Policy Innovation Council found that of 383 recommendations, only 11.2% had been delivered, while 20.1% had been partially implemented. With 46% “in progress,” nearly 23% had not been implemented at all. Looking more closely at specific sectors, the figures are even lower in energy, where none of the 83 recommendations have been delivered, and only 15.7% are partially in progress. In cleantech, only 2.6% have been fully implemented, while in digitalisation and tech, the figure rises to 10.6%. The leading sectors in which proposals have been more effectively implemented are critical raw materials (CRMs) and transport, with approximately a third and slightly more than a quarter of measures fully in place, respectively. 

According to further analysis from the Center for the Study of Democracy think tank, European countries have become more vulnerable to energy price shocks over the past three years, with affordability risks remaining high, particularly in Central and Eastern Europe, where retail prices remain 40–70% above pre-crisis levels. The report also highlights significant exposure to supply chain shocks in cleantech. 

In his keynote address at the 16 September conference titled “One Year After the Draghi Report,” the former Italian Prime Minister echoed these concerns and warned that the challenges identified in his report had intensified over the past year. He cited the near trade war with the US, marked by the introduction of new tariffs, and the continuously growing competition from China. In addition, he recalled that, according to the European Central Bank (ECB), the additional strategic spending required to finance the green, digital, and defence transitions is now estimated at almost €1,200 billion per year on average over 2025–2031, up from €800 billion a year earlier. 

While European Commission President Ursula von der Leyen highlighted the College’s actions over the past nine months, noting many recent policy initiatives, Draghi joined the chorus of voices urging further action. He emphasised the importance of building resilience and innovation at the heart of Europe’s competition policy, noting that the EU’s ability to act remains constrained by dependencies – particularly on the US for defence and China for CRMs. He also pointed to the lack of a clear financing path for the EU’s strategic needs and identified speed as a critical issue, with the Union struggling to implement rapid changes and keep pace with other economies, with the energy and R&I sectors no exception. 

Lowering energy prices in Europe was a central concern of his speech. Draghi advocated deeper structural reforms, criticising the short-term nature of current measures and highlighting the persistent link between electricity and gas prices. On R&I, he acknowledged the Commission’s efforts, notably welcoming the proposed Horizon Europe budget increase for 2028–2034. However, he expressed doubts regarding breakthrough research funding and advocated directing more resources towards sizeable priority programmes and “centres of excellence”, focusing on high-risk, high-reward projects. 

Finally, he stressed that overall success will heavily depend on harmonisation among member states and reiterated his support for joint borrowing and common debt, as well as accelerated institutional reforms to build ad hoc “coalitions of the willing”, enabling decision-making that an increasingly fragmented European Union may struggle to undertake swiftly.