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Euro 7 Is Born
Under these new rules, vehicles—including passenger cars, vans, buses, trucks, and trailers—will be required to meet stricter emissions standards throughout a longer period of their lifecycle. This initiative aims not only to maintain cleaner air in our cities but also to challenge the automotive industry to innovate towards more environmentally friendly transportation solutions. Implications for manufacturers include...
This week, in a groundbreaking vote, the European Parliament took radical measures to dramatically reduce vehicle emissions. For old and new vehicles. The left voted against the new standards because they were not strict enough.
By Charles STRASS
Brussels, 25 March 2024 - 5 MINUTES READ
Brussels, 25 March 2024 - 5 MINUTES READ
The EU Council has right now adopted a set of new priorities for "A Competitive European Industry Driving Our Green, Digital, and Resilient Future". This initiative aims to prioritize the competitiveness of European industry, setting the stage for a new European competitiveness deal under the next European Commission.
The conclusions analyze the current state of the EU's industrial sector, exploring ways to enhance innovation, access to finance, and the business environment for manufacturers. They propose key principles to guide the EU's future industrial policy, aimed at leveraging the Union's ambitious goals for digital leadership and climate neutrality to foster industrial leadership and create high-quality jobs.
EU's Competitive Edge in Focus
The adopted conclusions provide a robust framework for the future of EU industrial policy. In the face of significant technological, economic, and geopolitical shifts, Europe needs a strong and competitive manufacturing base to drive innovation, productivity, sustainability, and growth. However, the EU industry has faced numerous challenges, including increased global competition and consecutive crises such as the COVID-19 pandemic, the Russian aggression against Ukraine, and rising tensions in the Red Sea. These crises have strained supply chains and driven up energy prices.
The conclusions stress the importance of the green and digital transitions, recognizing both the opportunities and challenges they present for companies and citizens alike. Priority is recommended for technologies critical to the EU's economic security, ensuring the Union remains at the forefront of global industrial innovation.
Innovation as the Cornerstone of Competitiveness
Innovation is highlighted as the driving force behind European competitiveness. The conclusions call for identifying a limited number of strategic priorities in the EU's industrial research and innovation policy. A major task for the next Commission will be to bridge the 'innovation paradox,' where knowledge does not always translate into marketable products and services.
Strengthening Financial Foundations
Finance is a crucial element of the EU's industrial policy. The conclusions explore ways to enhance private and public finance instruments while preserving competition and state aid policies. Key recommendations include advancing the Capital Market Union and utilizing existing instruments such as the European Investment Bank, cohesion policy, important projects of common interest (IPCEIs), and the InvestEU programme. The Council also calls for evaluating and, if necessary, improving existing European funding mechanisms and exploring structural ways to increase private investment.
Enhancing the Business Environment
Creating the right framework conditions for industry success is essential. This includes ensuring a well-functioning single market, a clear regulatory framework, a sustainable and secure energy market, a highly skilled workforce, an open trade policy, and robust intellectual property protections. These conditions will enable industries to thrive in a competitive global market.
A Vision for Comprehensive Action
The Council's conclusions advocate for a comprehensive European industrial policy aligned with the Union's green and digital priorities. The future policy framework should be based on evidence-based tools, metrics, market principles, and economic forecasts. It should incorporate environmental, sustainability, resilience, and social factors into its models to identify strategic future growth markets.
The EU's future industrial policy will build on the existing 2020 EU industrial strategy, the 2021 green deal industrial plan, and the digital decade. It will also consider recent legislation, including the chips act, the critical raw materials act, and the net-zero industry act.
Commitment to Long-term CompetitivenessThe European Council, in its conclusions of April 2024, reaffirmed the Union's commitment to long-term competitiveness, prosperity, and global leadership. Developing an effective industrial policy is crucial to achieving these objectives, ensuring that the EU remains a leader on the world stage.
As Europe faces unprecedented challenges and opportunities, the adoption of these conclusions marks a pivotal moment in shaping a future-ready industrial policy that drives innovation, sustainability, and resilience across the continent.
The conclusions analyze the current state of the EU's industrial sector, exploring ways to enhance innovation, access to finance, and the business environment for manufacturers. They propose key principles to guide the EU's future industrial policy, aimed at leveraging the Union's ambitious goals for digital leadership and climate neutrality to foster industrial leadership and create high-quality jobs.
EU's Competitive Edge in Focus
The adopted conclusions provide a robust framework for the future of EU industrial policy. In the face of significant technological, economic, and geopolitical shifts, Europe needs a strong and competitive manufacturing base to drive innovation, productivity, sustainability, and growth. However, the EU industry has faced numerous challenges, including increased global competition and consecutive crises such as the COVID-19 pandemic, the Russian aggression against Ukraine, and rising tensions in the Red Sea. These crises have strained supply chains and driven up energy prices.
The conclusions stress the importance of the green and digital transitions, recognizing both the opportunities and challenges they present for companies and citizens alike. Priority is recommended for technologies critical to the EU's economic security, ensuring the Union remains at the forefront of global industrial innovation.
Innovation as the Cornerstone of Competitiveness
Innovation is highlighted as the driving force behind European competitiveness. The conclusions call for identifying a limited number of strategic priorities in the EU's industrial research and innovation policy. A major task for the next Commission will be to bridge the 'innovation paradox,' where knowledge does not always translate into marketable products and services.
Strengthening Financial Foundations
Finance is a crucial element of the EU's industrial policy. The conclusions explore ways to enhance private and public finance instruments while preserving competition and state aid policies. Key recommendations include advancing the Capital Market Union and utilizing existing instruments such as the European Investment Bank, cohesion policy, important projects of common interest (IPCEIs), and the InvestEU programme. The Council also calls for evaluating and, if necessary, improving existing European funding mechanisms and exploring structural ways to increase private investment.
Enhancing the Business Environment
Creating the right framework conditions for industry success is essential. This includes ensuring a well-functioning single market, a clear regulatory framework, a sustainable and secure energy market, a highly skilled workforce, an open trade policy, and robust intellectual property protections. These conditions will enable industries to thrive in a competitive global market.
A Vision for Comprehensive Action
The Council's conclusions advocate for a comprehensive European industrial policy aligned with the Union's green and digital priorities. The future policy framework should be based on evidence-based tools, metrics, market principles, and economic forecasts. It should incorporate environmental, sustainability, resilience, and social factors into its models to identify strategic future growth markets.
The EU's future industrial policy will build on the existing 2020 EU industrial strategy, the 2021 green deal industrial plan, and the digital decade. It will also consider recent legislation, including the chips act, the critical raw materials act, and the net-zero industry act.
Commitment to Long-term CompetitivenessThe European Council, in its conclusions of April 2024, reaffirmed the Union's commitment to long-term competitiveness, prosperity, and global leadership. Developing an effective industrial policy is crucial to achieving these objectives, ensuring that the EU remains a leader on the world stage.
As Europe faces unprecedented challenges and opportunities, the adoption of these conclusions marks a pivotal moment in shaping a future-ready industrial policy that drives innovation, sustainability, and resilience across the continent.
Would you stay tuned with us in order to be informed on next EU moves on this subject?
Would you stay tuned with us in order to be informed on next EU moves on this subject?
