“This doctrine is simple and can be summed up in one key word: competitiveness. Competitiveness in every euro that we will spend and in every initiative we will propose.
“From this ambition comes a threefold work programme: simplify, invest and accelerate on our economic priorities.
“The compass must signal a change of mindset for Europe and Europeans. It makes Europe more predictable, while maintaining the course of our European model – decarbonised, social and respectful of our values.”
Impact on sustainability and the energy sector
A core aspect of the Competitiveness Compass is its focus on decarbonisation.
This initiative not only supports Europe’s goal of achieving a 90% reduction in emissions by 2040 but also aligns with the objectives for full decarbonisation by 2050.
The interlinkage of industrial, economic and trade policies under this framework aims to strengthen Europe’s competitiveness while advancing climate goals.
Christina Deligianni, EU Climate Pact Ambassador for the European Commission and Green Investments Expert at CINEA, says: “It is great to see the first flagship initiative of the new European Commission building on the Draghi Report and giving clear framework for the way forward on many fields of its work.