high level grouPS

A new wave of innovation is now required. Research policy and funding must be the principal tool for securing the EU’s transition towards climate neutrality in all sectors of the economy, for simultaneously improving competitiveness, ensuring citizens' prosperity and Europe’s resilience and security. It requires radical review of the mindsets and frameworks.

European industry competitiveness struggles under the burdens of uncompetitive energy costs, over-burdensome regulation and over-taxation. These are a direct brake on productivity and investment. An less competitive industry, or agriculture, does not deliver the benefits to society which it could, through improved products and services and income for the state to support its welfare mechanisms.

Generally energy provision to industry is 2-4 times more costly in Europe than in the USA. Energy intensive industry, which tends to produce the basic building blocks for a largely still successful downstream industry, is most affected, but it has ripple effects throughout the economy and households. It is therefore time to turn innovation concentration more effectively on to new technology that substantially reduces energy usage and demand.

One needs to identify technologies to reduce labour costs, but also see through their implementation on a large scale throughout industry. Consideration can be given to a focussed R&D&I approach to design major progress  combined with an incentive programme to encourage industry to invest. A new wave of innovation is now required, which not only identifies technologies to reduce labour content, but also sees through its implementation on a large scale throughout industry. Focussed R&D&I approaches to design major progress  combined with an incentive programme to encourage industry to invest are needed.

As key differentiator of Europe is that it must continue to take into account the provision of public goods (health, education, infrastructure). This helps to maintain Europe’s overall attractiveness compared to its competitors and to attract the best researchers. The purpose of this technological innovation drive must be to solve ecological problems, secure citizens’ welfare, and bring successes in international trade.