EU’s new industrial strategy: a roadmap for a sustainable economy
By Tom Carter, Senior Associate
With the European Green Deal and concurrent measures to enhance digitisation in the continent, the European Union is embarking on twin transitions that will require new technologies and innovative approaches to production, consumption, transportation, energy, and other systems. In order to coordinate these efforts the European Commission is proposing a renewed approach Industrial Strategy to foster globally competitive, climate-neutral and digitalised industries across Europe.
Key elements of the newly proposed Industrial Strategy include:
Articulating consistent and inter-connected industrial policy fundamentals across the continent that address innovation, investment, and environmental and labor standards
Emphasising the importance of a single market for industry across all EU Member States while adjusting the system as needed to meet the Commission’s sustainability and digitalisation goals
Pursuing a level playing field across Europe for access to technology, raw materials, pharmaceuticals, and other resources
Focusing on building opportunities for small and medium enterprises
Collaborating with industry, academia, municipalities, non-profits, and other stakeholders to develop approaches to innovation and facilitation of the industrial strategy.
The European Green Deal (EGD), along with digitization, are the drivers for the new Industrial Strategy. The Strategy will provide important measures to achieve the goal of making Europe climate-neutral by 2050 by incorporating elements of the EGD such as the strategy for a sustainably- built environment, the Circular Economy Action Plan, and the Clean Hydrogen Alliance.
The transformation to a green and digital economy opens the door for providers of innovative and sustainable products, services, and systems to scale up and prosper.
For more details, read Amplia Group’s four-part blog series on the EGD.
Meet our EU Green Deal team.