The European Commission has released its Competitiveness Compass, a strategic initiative aimed at enhancing Europe’s economic strength, sustainability, and global competitiveness. Rooted in the Draghi report, this initiative outlines key priorities to foster innovation, economic resilience, and sustainability across the EU.
Driving Europe’s Competitiveness
The Competitiveness Compass sets out six key areas to ensure Europe remains a global leader in economic and technological advancements:
- Easing business operations to stimulate economic growth.
- A Clean Industrial Deal to support competitive industries while creating quality jobs.
- A circular and resilient economy for sustainable production and consumption.
- Boosting digital technology diffusion to enhance productivity and AI leadership.
- Accelerating investment in green, digital, and social transitions.
- Addressing skills and labor gaps to improve employment and economic performance.
Zooming in on Water: EU’s Commitment to Water Resilience
Water plays a crucial role in achieving sustainability and resilience in the EU economy. As part of this broader strategy, the Commission has confirmed the following key water-related initiatives:
– The Water Resilience Strategy will be published in Q2 2025, outlining measures to enhance Europe’s ability to manage water scarcity and climate challenges.
– Member States must take action to address growing water scarcity by improving water management, increasing water efficiency, and promoting sustainable water use.
– A Climate Adaptation Plan in 2026 will further strengthen Europe’s defense against natural disasters such as floods and droughts while scaling up Nature-based Solutions (NbS) for climate resilience.
A Step Forward for a Water-Smart Society
As we work towards a Water-Smart Society, we welcome the European Commission’s recognition of water resilience as a key pillar of Europe’s future competitiveness. Strengthening research, innovation, and investment in water management will be critical to ensuring a sustainable, climate-resilient, and competitive Europe.
More information here: European Commission Priorities 2024-2029
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