The results of the report published by the Committee of the Regions (CoR) show that whilst there is widespread awareness and support for Europe 2020 – the EU’s growth strategy - there is an urgent need to commit more financial resources and to better engage local and regional authorities if its ambitious targets are to be met.

The 'Third CoR Monitoring Report on Europe 2020' report published by the Committee of the Regions (CoR) shows that despite growing levels of consultation with bodies representing local and regional authorities (LRAs), the shaping of Europe 2020 National Reform Programmes are still being decided by national governments. Europe 2020 is therefore failing to benefit from the potential that a coordinated approach between the different levels of governance could bring in delivering its objectives, according to the report. In March 2012, the CoR already highlighted that regions have to be involved on the creation of National Reform Plans.

The report therefore calls for more funding to be committed to the delivery of Europe 2020 including sufficient investment in social cohesion policy. It also calls for the European Commission’s 2013 Annual Growth Survey, expected to be published in November 2012, to explicitly state that Member States should involve LRAs in the preparation and implementation of National Reform Programmes.

The report was drafted by the CoRs' Europe 2020 Monitoring Platform, a group of over 160 cities and regions from the 27 EU Member States, monitors how Europe 2020 is implemented on the ground, promoting the exchange of good practices. The Platform is mobilised to support the CoR in the preparation of the mid-term review of Europe 2020, due in 2014.