The Banking Executive Magazine - August Issue 2022

Where is The EU Standing Today? EU GROWTH SECTORS The considered EU growth sectors are health, climate change and the environment, transport and travel, food and framing, oceans and fish- eries. HEALTH Health is a major priority for the Eu- ropean Union. The EU’s health pol- icy complements Members States’ policies to ensure that everyone liv- ing in the EU is protected from seri- ous cross-border health threats and has access to quality healthcare. While the organisation of healthcare is the responsibility of individual Member States, the EU complements national policies to reach shared ob- jectives. The EU’s health policy fo- cuses on tackling serious EU-wide health threats, preventing diseases and ensuring an equal chance of good health and quality healthcare for all. The EU’s ambition is to ensure acces- sible, effective and resilient health systems in the EU. The EU’s work in- cludes action on vaccination (includ- ing against COVID-19), fighting antimicrobial resistance, and pre- venting and limiting pandemics and other infectious diseases. CLIMATE CHANGE AND THE ENVIRONMENT European Green Deal. The European Green Deal is the EU’s action plan to make Europe the first climate-neutral continent. It is a growth strategy that aims to create, by 2050, a modern, resource-effi- cient and competitive European economy with no net emissions of greenhouse gases. Reaching this target means creating a clean, circular economy, restoring biodiversity and cutting pollution. It requires action in all sectors of the economy, including: • investing in environmentally friendly technologies; • supporting innovation in industry; • cleaner, cheaper and healthier forms of private and public trans- port; • decarbonising the energy sector; • ensuring buildings are more effi- cient; • working with international partners to improve global environmental standards. Environment The EU has some of the world’s high- est environmental standards, which protect nature and people’s quality of life, green the economy and ensure careful use of natural resources. EU environment policy plays a cru- cial role in supporting the European Green Deal in accelerating the tran- sition to a climate-neutral, resource- efficient and regenerative economy that gives back to the planet more than it takes. The EU is striving to reduce the en- vironmental impacts of the produc- tion and consumption of goods and services. The new Circular Economy Action Plan, one of the main blocks of the Green Deal, aims to make sustain- able products the norm in the EU. Energy The EU’s energy policy aims to en- sure a secure, competitive and af- fordable supply of energy, while meeting EU climate targets. Each Member State defines its own energy mix, but the coordination of rules at EU level allows them to meet common political objectives. TRANSPORT AND TRAVEL The EU’s transport policy helps keep the economy moving by developing modern infrastructure that makes journeys quicker and safer, while promoting sustainable and digital so- lutions. FOOD AND FARMING The common agricultural policy en- sures a stable food supply produced in a sustainable way and at afford- able prices. It also helps tackle cli- mate change, manage natural resources and support jobs and growth in rural areas the BANKING EXECUTIVE 12 ISSUE 164 AUGUST 2022 Health Food and farming EU GROWTH SECTORS Climate and environment Oceans and fisheries Transport and travel