During the recent European Defence Agency Steering Board meeting, EU Defence Ministers endorsed a Joint Statement emphasizing the necessity to strengthen the European Defence, Technological, and Industrial Base (EDTIB) by enhancing its financial accessibility. The statement highlights the crucial requirement for increased public and private funding to sustain industrial operations, drive innovation, and enhance competitiveness within Europe’s defence sector. Financial access issues, particularly impacting Small and Medium-sized Enterprises (SMEs) and Middle-sized enterprises (MidCaps), have surfaced alongside the growing significance of Environmental, Social, and Governance (ESG) investing in Europe.
Recognizing the EDTIB’s substantial contributions to job creation, economic growth, and security for Member States’ Armed Forces, the statement stresses the importance of balancing ESG-performance assessments while maintaining the industry’s unique nature without compromising operational effectiveness. Jiří Šedivý, EDA Chief Executive, underscores the criticality of uninterrupted financial access to sustain EDTIB operations, drive innovation, and maintain competitiveness, advocating for concerted efforts to bolster European defence while addressing financial barriers for SMEs and MidCaps amidst the evolving ESG investment landscape.