The journal of the SRM Study and Research Center follows the European Union’s growth path in light of new geoeconomic and political developments. It then analyzes the role of decentralized public administrations within the PNRR and reports two contributions on the “development trap,” one of the factors in the partial failure of cohesion policy, and on the RED III directive and the use of hydrogen in energy policies, with particular reference to the Puglia Region’s strategy.<\/em><\/p>\n\n The section curated by Intesa Sanpaolo’s European Regulatory & Growth Policies Office focuses primarily on the EU’s immediate future, starting with von der Leyen’s State of the Union address just months before the end of her mandate. This is followed by an in-depth look at the implementation of the Fit for 55 regulation and, subsequently, the completion of key initiatives for the 55% reduction in climate-altering emissions in the EU.<\/em><\/p>\n\n