SIS & the EU Competitiveness Compass
The European Commission has recently outlined its strategy to enhance the European Union's competitiveness for the 2024-2029 period through the Competitiveness Compass. This initiative aims to ensure sustainable prosperity by focusing on key areas essential for economic growth and resilience. At Social Innovation Solutions (SIS) we are committed to support the transformation of the European economy to a sustainable and competitive one - ready to face the uncertainties and opportunities of the next years.
SIS is active in 5 Central and Eastern European countries with business education programs, focusing on supporting the green and digital transition of SMEs, working with over 20.000 SMEs and NGOs across the region. At the same time, we are developing the largest climate solutions event in the region - Climate Change Summit - gathering every year thousands of key stakeholders in conversations about climate solutions, ESG and circular economy, amassing almost 3 million online viewers in the 3 past years.
The 7 primary objectives of the new plan for Europe's sustainable prosperity and competitiveness are:
1. Making Business Easier to Foster Economic Growth
Simplify administrative procedures and reduce reporting obligations by at least 25%, with a 35% reduction target for small and medium-sized enterprises (SMEs).
Complete the Single Market in key sectors to allow companies to scale up.
Introduce a new EU-wide legal status to help innovative companies grow.
SIS Work: Fostering SME growth in 5 CEE countries through Transformator and ESG Programs and hosting global dialogues at Climate Change Summit.
2. A Clean Industrial Deal to Support EU’s Competitive Industries and Create Quality Jobs
Present a Clean Industrial Deal to make industry competitive and create quality jobs.
Propose a 90% emission-reduction target for 2040 in the European Climate Law.
Support industries through an Industrial Decarbonisation Accelerator Act, expediting planning and permitting processes.
SIS Work: Hosting global conversations on growing EU competitiveness & decarbonization at Climate Change Summit and helping 20K+ SMEs in our business education programs to decarbonize their processes.
3. A More Circular and Resilient Economy to Transition to Sustainable Production and Consumption Practices
Implement a Circular Economy Act to create market demand for secondary materials and establish a single market for waste.
Introduce a new chemicals industry package, providing clarity on 'forever chemicals' (PFAS).
Work towards completing the European Health Union, diversifying supply chains, and enhancing access to advanced treatments.
SIS Work: Supporting 20K SMEs in 5 countries to transition to a circular and sustainable economy in the Sustainability Academy and bringing top European experts on circularity at Climate Change Summit
4. Boosting Productivity with Digital Tech Diffusion to Strengthen EU's Competitiveness and Become a Leader in AI Innovation
Encourage investments in digital infrastructures to improve access to secure, fast, and reliable connectivity.
Invest in supercomputing, semiconductors, the Internet of Things, genomics, quantum computing, and space technology.
Ensure access to supercomputing capacity for AI startups and industry through an AI Factories initiative.
SIS Work: Strategic instruments and mentorship to increase digital and tech preparedness in projects like the Sustainability Hub and Transformator
5. Putting Research and Innovation at the Heart of Our Economy
Increase research spending focused on strategic priorities.
Expand the European Research Council and the European Innovation Council.
Facilitate the transition of biotech innovations from laboratory to market with a European Biotech Act.
SIS Work: Growing innovation capacity in cleantech & greenovation for Romanian researchers in the Climate Paths project
6. Turbocharging Investment to Accelerate Green, Digital, and Social Transition
Enhance the investment environment to support the green and digital transitions.
Develop new financial instruments to mobilize private and public investments.
Strengthen the role of the European Investment Bank in funding transformative projects.
SIS Work: Accelerating green & tech transition through grants in 5 CEE countries within projects like the Sustainability Academy & Transformator
7. Tackling the Skills and Labour Gaps to Improve People’s Careers and Economic Competitiveness
Implement initiatives to address skills shortages and mismatches in the labor market.
Promote lifelong learning and vocational training programs.
Facilitate labor mobility within the EU to match skills with demand.
SIS Work: Support governance & reskilling in 5 CEE countries through Transformator
A sustainable future is the only one we can afford. Within the new European sustainable prosperity and competitiveness plan, Social Innovation Solutions remains dedicated to supporting the transformation of business & organizations across Central and Eastern Europe.