The European Union has doubled down on its green agenda in the face of Donald Trump’s US presidential election win, with the bloc’s Council of the EU insisting that “decarbonisation” was the key to making it competitive again.
In a joint statement published on November 8, EU leaders insisted they would not back down on their green strategy despite declining international interest.
“We will build a genuine Energy Union, characterised by a fully integrated and interconnected energy market as a matter of priority, through the decarbonisation of our energy mix and the supply of affordable and clean energy to all our citizens and businesses,” the Council said as part of its so-called “Budapest Declaration”.
It added that EU competitiveness would be bolstered by “ensuring our industrial renewal and decarbonisation, and allowing the EU to remain an industrial and technological powerhouse”, despite the fact that the bloc was already in a state of rapid deindustrialisation in several areas.
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— Brussels Signal (@brusselssignal) November 6, 2024
Politicians also gave a nod to recent EU-sponsored reports by former Italian prime ministers Enrico Letta and Mario Draghi.
Draghi’s report in particular had sparked alarm in Brussels over its warning that Europe was becoming less relevant economically on the international stage as a result of overregulation and energy issues.
The statement insisted that the EU would now take these reports to heart, although it did not go into much detail regarding how exactly it would do so.
“We seize their wake-up call. It is imperative that we urgently close the innovation and productivity gap, both with our global competitors and within the EU. We will work in unity and solidarity for the benefit of all EU citizens, businesses and Member States,” it read.
One key area EU leaders have acknowledged they had fallen down on was the bloc’s propensity to over-regulate, as well as the complicated landscapes businesses faced when trying to operate across EU borders.
To remedy this, the EU said it would be “launching a simplification revolution, ensuring a clear, simple and smart regulatory framework for businesses and drastically reducing administrative, regulatory and reporting burdens, in particular for SMEs”.
“We must adopt an enabling mindset based on trust, allowing business to flourish without excessive regulation,” it said.
“Key objectives to be implemented by the Commission without delay include making concrete proposals on reducing reporting requirements by at least 25 per cent in the first half of 2025, and including red-tape and competitiveness impact assessments in its proposals.”
Also included was a brief commitment to increasing EU “defence readiness and capabilities”.
“In this respect, the High Representative and the Commission will present without delay developed options for public and private funding. We will also harness the potential of the space industry,” the EU statement read, without presenting further details.
Donald Trump’s US presidential election victory has prompted consternation among left-wing members of the European Parliament. https://t.co/mVBXBtuC6p
— Brussels Signal (@brusselssignal) November 6, 2024
