The Inflation Reduction Act (IRA) fired the starting gun on a new era of industrial policy around the green transition and, set alongside the CHIPS Act and Bipartisan Infrastructure Law, marks a wide shift in US policy. It has also triggered an anxious response from the EU with the Green Deal Industrial Plan (GDIP), and although they are often compared at a headline level, the two strategies have important structural differences.
We believe the twin engines of decarbonisation and geopolitics and the twin imperatives of technological leadership and technological autonomy signified by the IRA and GDIP will shape the investment and operating landscape for the decade ahead. They are also a unique opportunity for firms to shape a new generation of industrial policy tools.
At GC, we understand the importance of navigating this new industrial system. We can help clients to better understand and track these policies, assess incentive structures and opportunities within, and finally, provide advice on how to engage constructively with the evolving landscape of industrial policy in the US and EU.
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Understand and track
Understand the drivers of the IRA and GDIP and what policymakers are looking to achieve.
Understand the policymaking frameworks in the US, EU and member states that shame the form, scale, and likely impact of industrial policy choices.
Track the development policy globally as subsidies are designed and deployed and other regulatory interventions are implemented.
Understand how other states will respond to the US and EU frameworks and the ways this may impact the incentives they create.
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Assess and prioritise
Map the incentive structure impacts of the IRA and GDIP for an asset or supply chain.
Identify opportunities and risks around these evolving incentives and develop strategies to respond to them both at the level of the US and EU authorities and in EU member states.
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Contribute and engage
Engage constructively with the industrial policy design questions raised by the dynamic created by the IRA and GDIP - and the deeper geopolitical and technological questions behind it.
Global Expertise
Our people
The Global Counsel team has been central to providing strategic advice on the future of industrial policy to corporates and investors across the globe. They draw on experience from government, trade departments, politics, think tanks, international organizations, and business to advise clients at all levels, including C-Suites, boards, and government/public affairs and operational teams.
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Stephen
Adams
Stephen operates across the trade, investment, and financial services practices, working with clients on supply chain resilience, UK trade policy, and providing expert training for the UK civil service.
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Daniel
Capparelli
Daniel leads on cross-border policy client work, particularly from a supply chain and distribution network perspective in wide-ranging sectors including food and drink, pharmaceutical & life sciences, automotive, ICT and financial services.
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Alessandro
Gangarossa
Alessandro advises clients on policy, regulatory and political developments at the EU level and across members states, in particular helping navigate policy risks affecting their assets' supply chains.
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Giulia
Pasquali
Giulia works with corporate and investor clients across a range of sectors to navigate practical barriers to trade and to engage with senior policymakers on trade-related issues in the EU, UK and globally.
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Erin
Caddell
Erin leads Global Counsel USA, working with both US-based and non-US-based investors to assess the outlook for US policy across sectors.
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Kelly
Satchell
Kelly advises investors on the political and policy risks and opportunities of asset purchases, in particular the education sector.