The European Commission declares its readiness for an energetic approach to reducing bureaucracy. This is stated in a draft of the so-called Competitiveness Compass strategic document, which will be officially presented by the EC next week, which DPA has previously reviewed.
The first steps are expected to be taken in February and include simplified rules for taking into account sustainable financing and due diligence.
In the draft of about 20 pages, the EC outlines its priorities for its future economic policy over the next two years.
Some of the measures may affect, for example, EU supply chain regulations, which aim to hold large companies accountable if they exploit child or forced labor outside the EU.
In addition to reducing bureaucracy, the aim is to encourage investment in innovative technologies, such as those based on artificial intelligence, to provide greater support for technologies that reduce the impact on the climate, and to reduce energy prices.
The Commission also underlines its intention to stick to the EU's goal of achieving carbon neutrality by 2050.
A new competitiveness check is also planned to be implemented to monitor new initiatives more closely, such as assessing the expected impact of EU projects on cost differences compared to other international competitors.
The EU currently faces competition mainly from China and the US, where companies now have advantages over the EU when it comes to energy prices.