Press Release – Competitiveness Compass: Missing climate details could risk Compass going south
Publish date: January 30, 2025
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Press Release – Competitiveness Compass: Missing climate details could risk Compass going south
Brussels, January 29th 2025 – Yesterday, the European Commission published its Competitiveness Compass, outlining its five-year strategic vision for the 2024-2029 term. The Compass establishes competitiveness as the overarching principle for action but lacks clarity and detail on how the EU will safeguard Green Deal objectives.
Bellona Europa welcomes the Commission’s initiative to accelerate the clean energy transition and the decarbonisation of energy-intensive industries in its joint plan for decarbonisation and competitiveness. However, the Commission must not lose sight of Europe’s climate objectives in its pursuit to boost Europe’s competitiveness – rapid and deep decarbonisation is a critical prerequisite for long-term, sustained competitiveness.
«This much-needed initiative has great potential to accelerate the decarbonisation of our energy system and drive industrial decarbonisation. But the devil is in the details—if the Commission gets them right, Europe can meet its climate objectives and position itself as a global leader in clean industrial production.»
Lina Strandvåg Nagell
Deputy Director & Head of Policy
As a key priority of the Compass, the Commission has announced an ‘unprecedented simplification effort’ to cut red tape, reduce administrative burdens, and increase flexibility in accessing funding with the aim to improve regulatory efficiency, accelerate permitting and attract investment in Europe. Nowhere is this more critical than in climate action, where speed is of the essence.
However, Bellona Europa warns that reducing administrative hurdles and simplifying reporting requirements must not come at the expense of important climate and environmental criteria. Simplification must not lead to oversimplification and deregulation, undermining the progress made in implementing the European Green Deal.
«Easier access to public funding should be leveraged to maximise climate impact— public investments in industry must drive significant emissions reductions, ensuring that taxpayers’ money contribute meaningfully to climate goals.»