New EU Industrial Strategy Essay Sample
The following essay sample is based upon the new industrial strategy of the EU after the global pandemic in the year 2020, a new industrial strategy for driving health and growth, and an industrial strategy for Europe for leading the target of 2030.
The industry is a fulcrum point of growth and progress in Europe where almost 20% of the EU’s economy employs around 35 million people. EU holds the topmost position as the exporter who wants to be the global destination for foreign direct investment (FDI).
EU relies upon European industry to lead the transition towards the neutrality of climate and digital leadership. EU industry has the ultimate goal to bring change, growth, innovation, and acceleration.
The EU industrial strategy has the aim to facilitate industry in the promotion of climate neutrality and a digitalized industrial future along with the circular economy and global competitiveness. The new industrial strategy promotes the industries in such a way so that it can help in ecological transition.
The word “ecological transition” means a reduction of carbon in the environment and the promotion of a circular economy. Such transition needs to bring revolution to the age-old models in the industry by introducing new designs and by getting rid of the things that are not required in the industries.
Such an approach will ensure a safe, clean and competitive industry which will reduce adverse effects on the environmental resources. It will also reduce the overall cost of production.
New Industrial Strategy for Europe after Global Pandemic in 2020
After a sudden outbreak of the global pandemic in the year 2020 a multi-disciplinary Task Force was launched on EU industrial policy. The task force had an aim to discuss and reconsider industrial strategy in respect of the European Commission’s Communication in 2020.
The new industrial strategy for the EU has the ambition of achieving a very climatic neutral target, resilience to the external forces, competitive sustainability, and strategic autonomy. After the launch of the new industrial strategy, there had been many unpredictable challenges to the economy in the year 2020.
After such an outbreak of pandemic in 2020 there have been social and economic shocks that have deteriorated the transformation in the industrial sector and strategic autonomy.
In such a scenario, the Task Force with the policymakers, civil society representatives, and industry representatives have set priorities of new EU industrial strategy in the multidisciplinary environment. It has helped in supporting the institutions of the EU in launching Europe’s economy with the help of recommendations and ideas.
New Industrial Strategy for Boosting Health and Growth
Europe has an excessive demand for meeting the needs of healthcare and for the safeguarding of health and social care in the environment. It is being stated that by maximizing the contribution in the field of research many new innovations can be devised.
A new European Union Industrial Strategy would assist in dealing with the increasing rate of chronic illnesses and health conditions of old age people.
This would help in the promotion of healthcare and the pharmaceutical sector. Such a strategy helps in boosting the overall economic growth of the country, especially the pharmaceutical sector. It will also create a positive impact on the health of the general public resulting in becoming the pharmaceutical sector of paramount importance.
Such a strategy will help the health care and pharmaceutical sector to generate millions of jobs which can directly help in the economy’s contribution to the EU.
Such companies can become innovative, competitive, growth-oriented, and productive with the help of the right policy framework which can boost its full potential to deliver. This new strategy will boost health and growth in the general public of Europe.
EU Industrial Strategy for Leading the Target of 2030
EU industrial strategy will be determining the growth of Europe, its strength of the recovery, and its competitiveness with European Green Deal principles for the next upcoming years. It has an aim to create an industry that will be built upon economic, social, and environmental resilience at the same time.
There are main approaches that can help the commission to set a strategic and defined direction for investors and industry innovators which are based on the EU System Change Compass.
The strategy intends to make the business of Europe eco-friendly, green, digitalized, and competitive by nature. There is a target of cutting 55% greenhouse gas emissions by 2030 and net zero emissions by 2050 with zero pollution and the revert of loss of biodiversity.
The new 2020 strategy plans are there to engage the industry in creating better ownership among the leaders and solutions. The small and middle entrepreneurs must be encouraged to become leaders of low carbon aviation, green steel, clean hydrogen, efficient space buildings with systems of mobility.
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The above essay sample is written to highlight the EU’s new industrial strategy and other aspects of it.
Applied Ecology QQI Level 5, Environmental Studies QQI Level 5, Sustainable Development QQI Level 5, Industrial Electrical Systems Course QQI Level 6 students can read this essay sample to gain professional skills of writing and knowledge on such topics.
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