COVID-19: Lessons for the new EU Industrial Strategy

Submitted by Imogen Allan on 25 March 2021

In a meeting of the European Alliance Against Coronavirus on 9 February 2021, the group discussed important lessons learned from the COVID-19 crisis that are relevant for the update of the Industrial Strategy of the European Commission.

Veronica Elena Bocci (DITECFER) highlighted the importance of Europe upholding a level playing field globally. As a Union, we are affected by the breakdown of global value chains, and have lost power to entities outside of Europe. As a result, regulations for companies related to fairness and equality must be enforced and upheld internationally, as well as in Europe. Ms. Bocci further emphasised that financing of the industrial transition must be reviewed, especially rules in relation to state aid. Banks must also be brought on board, so that all relevant actors can follow in their footsteps.

In addition, during the meeting, the European Alliance Against Coronavirus discussed changes in the mindsets of companies. The COVID-19 crisis has led to changes within organisations, particularly those operating internationally. Not only do staff require technical upskilling, but also “cultural” upskilling. Clusters are well positioned to tackle this. Furthermore, a focus on the return of investment would help to encourage companies to see the benefits of the transitions that are to be undertaken, as well the increasing relevance of certain social aspects in industry.

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Find the recording of the session below.

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