The European Commission, led by Ursula von der Leyen, is embarking on an ambitious plan to reduce bureaucracy and strengthen competitiveness across the continent. With Europe lagging behind the US and China in innovation, the Commission aims to simplify reporting obligations and introduce new laws that bolster sustainable finance and due diligence. A key focus is reducing the regulatory burden on small and medium-sized enterprises, with a target to cut reporting obligations by 35%.
High energy prices and unfair international competition are major challenges for EU businesses. The Commission plans to address these by promoting investments in green technologies and simplifying the approval processes for renewable energy projects. Additionally, there is a focus on revitalizing Europe's industrial model by fostering innovation in areas like artificial intelligence, semiconductors, and quantum computing.
Von der Leyen's strategy also includes a push for strategic autonomy, favoring European companies in high-tech contracts to counteract US and Chinese policies. This initiative aligns with the EU's broader goals of achieving climate neutrality by 2050 and reducing emissions by 90% by 2040.
Despite these efforts, there are concerns about maintaining human and environmental protections. Business representatives urge swift action on these proposals, while environmental and social groups call for a balanced approach to ensure sustainability is not sidelined. The Commission is prepared to take legal action against member states that fail to implement these deregulatory measures, emphasizing the importance of competitiveness in the EU's economic doctrine.
