The European Commission has presented a new Strategy to help Europe’s industry lead the twin transitions towards climate neutrality and digital leadership.
The Strategy aims to drive Europe’s competitiveness and its strategic autonomy at a time of moving geopolitical plates and increasing global competition.
The package of initiatives outlines a new approach to European industrial policy and sets out a range of actions to support all players of European industry to ensure successful digital and green transitions.
The Industrial Policy package initiatives
The new Industrial Strategy will help deliver on three key priorities namely; maintaining European industry’s global competitiveness and a level playing field, at home and globally, making Europe climate-neutral by 2050 and shaping Europe’s digital future.
Key drivers of Europe’s industrial transformation and future actions required:
- An Intellectual Property Action Plan to uphold technological sovereignty and adapt the legal framework to the green and digital transitions
- The ongoing review of EU competition rules, including the ongoing evaluation of merger control and fitness check of State aid guidelines.
- Fair competition at home and abroad
- Comprehensive measures to modernise and decarbonise energy-intensive industries, support sustainable and smart mobility industries, to promote energy efficiency, strengthen current carbon leakage tools and secure a sufficient and constant supply of low-carbon energy at competitive prices
- Enhancing Europe’s industrial and strategic autonomy by securing the supply of critical raw materials
- A Clean Hydrogen Alliance to accelerate the decarbonisation of industry and maintain industrial leadership, followed by Alliances on Low-Carbon Industries and on Industrial Clouds and Platforms and raw materials
- Further legislation and guidance on green public procurement
- A renewed focus on innovation, investment and skills
The Commission will systematically analyse the risks and needs of different industrial ecosystems. In doing this analysis, the Commission will work closely with an inclusive and open Industrial Forum, to be set up by September 2020. It will consist of representatives from industry, including SMEs, big companies, social partners, researchers, as well as Member States and EU institutions. Where needed, experts from specific sectors will be called upon to share their knowledge.
Another key focus of the Commission is to minimise the barriers that prevent businesses from fully exploiting the potential of the single market. Estimates show that removing these barriers could bring up to €713bn by the end of the decade.
Ursula von der Leyen, president of the European Commission, said: “Europe’s industry is the motor of growth and prosperity in Europe…This is more important than ever as Europe embarks on its ambitious green and digital transitions in a more unsettled and unpredictable world. Europe’s industry has everything it takes to lead the way and we will do everything we can to support it.”
Thierry Breton, Commissioner for Internal Market, said: “Europe has the strongest industry in the world… Managing the green and digital transitions and avoiding external dependencies in a new geopolitical context requires radical change – and it needs to start now.”
Click here for the more on the Action Plan for Better Implementation and Enforcement of single market rules.