The Commission's new Industrial Policy Strategy aims at leadership but the resources are missing

Wed, 03/11/2020 - 12:06
The Commission published its Industrial Policy Strategy on Tuesday. The message of the EU’s Industrial Policy Strategy is clear – it will be the tool for implementing Europe’s Green Deal and digital transformation.

European industries shall develop the solutions that will stop the Climate Change. Europe must take leadership in the development and deployment of Digital Technologies. Europe, and the industry enabling Europe’s welfare, must become climate neutral, digital and resource efficient.

Technology industry is ready and active in building up and implementing the Industrial Strategy that lays the foundation for European prosperity. We urge for quick actions and will soon present our low-carbon road map as an incentive the Commission is asking for.

The competitive edge of Europe is built upon state-of-the-art research and innovation activity.

The competitive edge of Europe is built upon state-of-the-art research and innovation activity. China invests more of its GDP to R&I than EU, and EU is far behind its own 3 percent target by 2020. Nevertheless, the proposed EU budget for next seven years does not allocate adequate resources to that foundation. Member states must wake up and foster the long-term benefit of Europe by allocating considerably more both EU and national funds to innovation and digitalisation.

Europe’s climate neutrality targets can only materialize if the EU and its member states invest heavily in the development and commissioning of zero-carbon technologies. This “trillion euro” investment programme must start quickly. Funds from cohesion and agricultural sectors shall be directed to zero-carbon investments in the recipient states. Finnish industry is well prepared to provide solutions towards carbon neutrality.

The Commission should not overregulate data and AI

Speeding up digital transformation in Europe, deployment of 5G/6G technologies and development of digital infrastructures are prerequisites for continued success of European industries.  Availability and utilisation of data, as well as development and deployment of Artificial Intelligence solutions, automation and robotics are crucial. The Commission should not overregulate data and AI but focus only on the regulation of identified high risk sectors. The skills of European citizens must be updated at pace with the digitalisation of work.

Clean electricity is a fundament in reaching carbon neutrality in Europe.

Clean electricity is a fundament in reaching carbon neutrality in Europe. Nuclear and (bio)gas plants shall be included in the taxonomy of sustainable financing, with transition periods ensuring continuity of investments.

Investments in circular economy and resource efficiency are important both for European self-sufficiency and adequacy of Earth’s resources. EU shall foster the circulation of products, materials and side streams of processes. Regulation blocking circular economy shall be cancelled.

Europe will need joint public and private investments to speed up sustainable growth. For this we need partnership programmes and funding. Finnish industry shall join the Industrial Ecosystems and Alliances defined by the Commission – initially low carbon and hydrogen technologies, industrial internet of things, autonomous traffic, cyber security and later on also health technology. Finnish innovation policy shall ease the joining of these networks.

The Commission promises to use its economic weight to ensure rules based and level playing field in all markets. This is long awaited and necessary.

Making taxation procedures simple and effective using digitalisation will enhance international trade of SMEs and more functional single market. Global corporate income taxation rules should be pursued, not EU-specific taxes.

Further information:

Mervi Karikorpi, tel. +358 (0) 40 741 9801, mervi.karikorpi@teknologiateollisuus.fi, twitter: @mervikarikorpi

Akseli Koskela, puh: +358 (0) 44 277 1780, akseli.koskela@teknologiateollisuus.fi, twitter: @ak5eli 

Matti Mannonen, puh: +358 (0) 40 544 7047, matti.mannonen@teknologiateollisuus.fi; twitter: @mannonen_matti

More on the subject:

Proposals for the EU’s Industrial Policy

Fostering innovation-led transformations in industry and society