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proposals are fully aligned with the underlying principle of Europes new
growth strategy: give back more than extract.
c. A new European industrial and innovation strategy
The EU’s new industrial strategy was born from the realisation that the
emerging digital revolution stands as a defining opportunity for securing
Europe future prosperity in the coming decades. By creating new products,
services, markets, and business models, as well as shaping new types of jobs
and new set of skills, the emerging digital technologies are changing the face
of the entire industrial sector (European Commission 2020b).
To establish the continents leading position in the coming era, the New
Industrial Strategy for Europe aims to create a world-leading digital industry.
Due to the Union's strong innovation capacity, the European industry already
enjoys a global competitive advantage on high value-added products and
services. But to preserve that advantage, the EU intends to further increase
its research- and innovation-related investments.
The Union strives not only to successfully adapt to the modern digital
challenges, but also to become the accelerator and enabler of change and
innovation in this field. Wisely utilising the potential of digital transformation
could also strengthen the EU’s geopolitical position and help reaffirm its voice,
uphold its values, and fight for its long-lived achievements at an international
level. As the new industrial strategy asserts: this is about Europe’s sovereignty
(European Commission 2020b, 1).
CONCLUSIONS: LOOKING TOWARDS THE FUTURE
More than two decades have passed since the Union officially declared
sustainable development as one of its primary objectives. Even though the
EU has succeeded in many aspects, there is no reason for celebration. Despite
all the efforts made in the past period, humanity is still not on the right track
to achieve its sustainable development-related objectives.
Moreover, the past two years have been marked by the COVID-19
pandemic, which has had a significant impact on every aspect of life from
health care and environmental awareness to economic, social, and political
stability. It has created an unprecedented global challenge which, in addition
to its significant social consequences, has also resulted in a major economic
shock for both the European and global economies. It threatens to affect
decades of progress made on sustainable development.
In order to alleviate the short-term damage in a way that supports and
reinforces the already achieved results, in November 2020, the European
Parliament and the Council reached an agreement on a historic recovery plan.