EUROPE 2020: SMART, SUSTAINABLE, INCLUSIVE GROWTH
In 2010, the EU adopted a ten years economic strategy for a smart, sustainable and inclusive growth, called Europe 2020 strategy.
What are the key targets to be reached by 2020?
The Europe 2020 sets five ambitious targets to be achieved by 2020:
- Employment: 75% of the 20-64-year-olds to be employed
- Research & Development: 3% of the EU’s GDP to be invested in R&D
- Climate change and energy sustainability: greenhouse gas emissions 20% (or even 30%, if the conditions are right) lower than 1990 20% of energy from renewables 20% increase in energy efficiency
- Education: Reducing the rates of early school leaving below 10% at least 40% of 30-34–year-olds completing third level education
- Fighting poverty and social exclusion: at least 20 million fewer people in or at risk of poverty and social exclusion
These targets are interrelated and critical to Europe’s overall success. To ensure that each Member State tailors the Europe 2020 strategy to its particular situation, the Commission proposed that EU goals were translated into national targets and trajectories. Integrated guidelines would be adopted at EU level to cover the scope of EU priorities and targets. Country-specific recommendations would be addressed to Member States. Policy warnings could be issued in case of inadequate response.
Finally, Europe 2020 identifies seven flagship initiatives to boost innovation and growth and to catalyze progress under each priority theme:
- “Innovation Union” to improve framework conditions and access to finance for research and innovation so as to ensure that innovative ideas can be turned into products and services that create growth and new jobs.
- “Youth on the move” to enhance the performance of education systems and to facilitate the entry of young people to the labour market.
- “A digital agenda for Europe” to speed up the roll-out of high-speed internet and reap the benefits of a digital single market for households and firms.
- “Resource efficient Europe” to help decouple economic growth from the use of resources, support the shift towards a low carbon economy, increase the use of renewable energy sources, modernise our transport sector and promote energy efficiency.
- “An industrial policy for the globalisation era” to improve the business environment, notably for SMEs, and to support the development of a strong and sustainable industrial base able to compete globally.
- “An agenda for new skills and jobs” to modernise labour markets and empower people by developing their skills throughout the lifecycle with a view to increase labour participation and better match labour supply and demand, including through labour mobility.
- “European platform against poverty” to ensure social and territorial cohesion such that the benefits of growth and jobs are widely shared and people experiencing poverty and social exclusion are enabled to live in dignity and take an active part in society.