Green Business and Innovation
Programme area objective Green value creation and competitiveness.
Rationale for the support
Private enterprises in contexts with low levels of innovation are more at risk of falling behind in the green and digital transitions. They are also less successful in accessing EU funding. Enhancing their competitiveness will attract private investments, create better jobs, and drive sustainable economic growth. While it is primarily the responsibility of private enterprises to exploit market opportunities in the green transition, public funding is needed to stimulate and accelerate the transition, as it reduces risks and may release private capital. It is crucial to promote gender balance in the green economy and support female entrepreneurs in participating in the green and digital transitions.
This programme area contributes to the EU’s climate goals in line with the European Green Deal and the EU Industrial Policy. A green and competitive private sector is key to achieving the transition to a low-carbon, circular, and climate-resilient economy, as well as to reaching the EU’s goal to be the first climate-neutral continent by 2050. The European Green Deal is Europe’s growth strategy. Private enterprises must innovate net-zero technology and shift to resource-efficient circular practices and clean energy sources. They should seize green market opportunities stricter environmental rules and standards. Seizing green market opportunities is essential for gaining a competitive edge, and companies that succeed will have an advantage in the net- zero economy. The private sector has the potential to drive the green and digital transitions of the economy by developing and bringing innovative solutions to the market. However, the level of innovation varies across Europe. for growth and adapt their business models to meet
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