Given the rapid changes our societies are undergoing and the 'short-termist' tendency of many economic and political actors, the need for long-term vision is more important than ever. The implementation of far-reaching global objectives such as building sustainable infrastructure for sustainable investment, fighting climate change or innovating in our resources consumption and in production technologies is not only an absolute necessity: it is also a path, in itself, to recovery from the current crisis on a new basis to avoid its return and ensure the well-being of future generations.
Shifting to a low-carbon economy, saving natural resources or adapting to rapid urbanisation, will require major investments notably in the fields of energy saving and renewable energy, water, telecommunications and transport infrastructures as well as technology innovation. These are all sectors which themselves can yield high financial, economic and social returns for patient capital while creating smart, sustainable and inclusive growth and jobs.
As the European Union experiences a crisis of its fundamental political project, many of the Member States' budgets and the EU budget itself are constrained by recovery plans and banks are struggling to adapt to the new prudential requirements, there are now few options but to encourage long-term investors to cooperate in taking up the challenge and help them through suitable regulatory frameworks and appropriate incentives.