Brussels – The European Commission has sent a strong signal with its latest mandate as it seeks to enhance European competitiveness on the global stage, according to polyurethanes trade association ISOPA. Increased industrial adoption of artificial intelligence is one of several action plans set out by the EC as it embarks on its 2025-29 mandate.
Launched on the back of recommendations made by the Draghi Report, the EU Competitiveness Compass is a strategic framework designed to steer the Commission’s work. It sets a path for three core areas of action: innovation, decarbonisation and security.
Creating a habitat for young innovative start-ups is one of the flagship measures highlighted as a means of reigniting the EU’s innovation engine. AI Gigafactories and Apply AI initiatives are earmarked as ways of driving development across key sectors.
A dedicated EU start-up and scale-up strategy includes a proposal for a 28th legal regime, which aims to simplify applicable rules, including relevant aspects of corporate law, insolvency, labour and tax law, and reduce the costs of failure. This will make it possible for companies to benefit from a single set of rules, wherever they invest and operate in the European Single Market.
The Compass identifies high and volatile energy prices as a key challenge, and it plans to set out a joint roadmap for decarbonisation and competitiveness. A part of that is the upcoming Clean Industrial Deal, which aims to secure the EU as an attractive location for manufacturing, including for energy-intensive industries, and an Affordable Energy Action Plan, which it says will help reduce energy prices and costs. Tailor-made action plans will follow for energy intensive sectors, including chemical, steel and other metals.