European Commission’s Policy Decisions to Follow the Competitiveness Compass
The European Commission has been launching an ambitious policy agenda to enhance competitiveness, innovation, and security across the European Union. The Competitiveness Compass is at the heart of the new strategy, establishing competitiveness as a key guiding principle for EU policies. Today, January 29, this tool has been presented.
Download the Factsheet – Competitiveness Compass
The compass stands upon three fundamental pillars: closing the innovation gap, implementing a joint plan for decarbonization and competitiveness, and enhancing security while reducing dependencies.
Its main aim is to align national and EU-level policies to create a more resilient and competitive European economy.
The first pillar focuses on closing the innovation gap by driving productivity through research and technological advancements.
The second pillar integrates decarbonization with industrial, competition, economic, and trade policies, recognizing that sustainability and economic growth can be mutually reinforcing. The European Commission aims to facilitate access to affordable energy, strengthen the business case for clean transitions, and promote the competitiveness of clean tech manufacturers.
The Clean Industrial Deal will support industries and SMEs in transitioning to net-zero emissions. Additionally, the Industrial Decarbonisation Accelerator Act and Electrification Action Plan will ensure a coordinated approach to climate-friendly industrial policies.
The Commission will also launch a Strategic Dialogue on the Car Industry to facilitate the transition toward electric and autonomous vehicles.
Finally, the third pillar of the Competitiveness Compass focuses on reducing excessive dependencies and increasing security by integrating open strategic autonomy considerations into EU economic policies.
You can read full statement from EU Commissioner, Ursula von der Leyen here [+]
