- Between June 6-9, the European Parliament elections will take place, marking the beginning of the EU’s tenth mandate
- The EU Recovery Fund and the European Green Deal have been the focus of most efforts by European leaders
This week, the last plenary session of the IX legislature of the European Union is being held in Strasbourg (France), a legislature marked by the outbreak of the COVID-19 pandemic and the economic consequences of the conflict between Ukraine and Russia. It’s time to take stock of the main policies that the Union has promoted over the last five years, and the Finnova Foundation, committed to European financing, wants to provide a brief summary of the main lines of action driven by the 27.
European Green Deal: Fighting climate change is one of the Union’s priorities, and the European Green Deal, approved in 2020, is the spearhead of the European project in this area. The deal establishes measures to make the European Union climate-neutral by 2050, including measures to promote biodiversity, circular economy, and sustainable agriculture, among others. Its main focuses include emission reduction, transition to renewable energies, promotion of sustainable mobility, and biodiversity protection.
European Union Recovery Fund (NEXT GENERATION EU): Approved in 2020 in response to the economic crisis caused by the COVID-19 pandemic, this €750 billion fund supports economic recovery and resilience in the EU. It finances projects that bet on the green and digital transition, as well as structural reforms to boost the economy and employment, with the aim of achieving sustainable and equitable recovery.
EU Circular Economy Action Plan: Approved in 2020, it promotes sustainable economic practices in the EU, reducing resource use, promoting recycling and reuse, and addressing the issue of plastic waste. This plan aims to transform the economy towards a circular model, minimizing waste and protecting the environment.
EU Hydrogen Strategy: Approved in 2020, it promotes the use of hydrogen as a clean and renewable energy source in Europe. It establishes measures for the development, distribution, and use of green and low-carbon hydrogen, contributing to decarbonization and climate neutrality goals by 2050.
European Union Artificial Intelligence Act: In force since 2021, it establishes rules to regulate the development and use of artificial intelligence. It includes security and transparency measures, prohibits practices that violate fundamental rights, imposes stricter requirements for high-risk systems, and establishes supervision and sanctions in case of non-compliance. Its aim is to promote ethical and responsible use of artificial intelligence in Europe.
Digital Services Act and Digital Markets Act: Approved in 2022, they regulate the digital market in the EU. The Digital Services Act sets standards for online platforms, promoting transparency and user protection, while the Digital Markets Act ensures fair competition, especially for large tech companies, promoting a safer and more transparent digital environment.
Finnova is committed to continuing its work aligned with European values with a clear focus on promoting innovation, entrepreneurship, and sustainable development. The Foundation carries out its activities with the main aim of promoting projects and programs that contribute to economic and social growth, as well as job creation, through the application of new technologies and innovative business models.
The Finnova Foundation has a close relationship with the EU, managing European projects in areas such as innovation and sustainable development, providing advice and support to participate in Union financing programs, and promoting European policies and objectives at the local and regional levels. As a partner in LIFE, HORIZON, ERASMUS+, INTERREG, and COSME projects, it contributes to the implementation of EU policies and programs, fostering cooperation and development in different sectors.
About Finnova Foundation
Finnova is a Spanish-Belgian non-profit foundation working for the promotion and development of innovation and entrepreneurship at EU level. Based in Brussels, it operates through collaborations and partnerships in all EU countries. Finnova’s expertise in leading European project communication and dissemination activities is combined with a strong proven track record in start-ups and business support programmes, such as accelerators, incubators and ceremonial event selection and awarding.