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Tag ‘EU Green Deal’

Pact for Skills launched by Commissioners Schmit and Breton

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The original press release is available in the Commission Press Corner.

Commissioners Schmit and Breton officially launched the Pact for Skills on 10 November during the fifth edition of the European Vocational Skills Week 2020, organised by the European Commission in partnership with the German Presidency of the Council of the EU.

Europe’s skill needs are affected by mismatches and shortages, and it is only through relevant partnerships that substantial progress can be made. The focus on skills is essential to recovery from the coronavirus pandemic and for mastering the digital and green transitions.

What is the Pact for Skills?

The Pact for Skills promotes joint action to maximise the impact of investing in improving existing skills (upskilling) and training in new skills (reskilling). It calls on industry, employers, social partners, chambers of commerce, public authorities, education and training providers and employment agencies to work together and make a clear commitment to invest in training for all working age people across the Union. It also aims to support green and digital transition and assist with local and regional growth strategies.

The Pact is a flagship initiative under the European Skills Agenda for sustainable competitiveness, social fairness and resilience, presented on 1 July 2020.

First European skills partnerships announced

In addition to launching the Pact, Commissioners Breton and Schmit also announced the first European skills partnerships. These partnerships focus on strategic industrial ecosystems heavily affected by the current crisis and the priority areas identified in the European Green Deal to achieve ambitious commitments. The first European skills partnerships in key industrial ecosystems are as follows:

  • Automotive: The ambition to upskill 5% of the workforce each year would result in around 700,000 people being upskilled throughout the entire ecosystem, representing a potential overall private and public investment of €7bn starting with regional pilot schemes.
  • Microelectronics: Initiatives underpinning the ambition of the partnership represent an overall public and private investment of €2bn providing upskilling and reskilling opportunities for more than 250,000 workers and students (2021-2025) in Europe’s electronics clusters.
  • Aerospace and defence: The ambition is to upskill around 6% of the workforce each year reaching 200,000 people, and to reskill 300,000 people to enter the ecosystem representing a public and private investment of €1bn over the next ten years.

Find out more about the Pact for Skills, additional questions and answers covered during the launch as well as how to join the pact on the website.

Innovation at the service of the EU Green Deal

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The original article can be found on the EASME website.

The European Innovation Council Accelerator pilot supports innovation that creates the markets of tomorrow and therefore has its part to play in bringing the European Green Deal to life. Here’s how the EIC supports innovators that deliver a climate-neutral circular economy on the ground, in a few numbers. 

The push towards a green economy has received new impetus under European Green Deal – the EU’s pledge to become the first climate-neutral continent in the world. This transition will largely be market-driven and will require many new technologies, processes, economic circuits to support the shift. From waste-sorting robots and more efficient production chains, to air-cleaning flower pots, cars that inhale their own fumes and smart energy devices, green innovations supported by the EIC Accelerator are making the transition towards a circular, low-carbon economy a reality. 

Young green companies at the forefront

The EIC supports over 1.100 green companies for over € 550 million in total. This represents almost 25% of all EIC-supported companies. Since the latest EIC Accelerator cut-off, companies can get equity in addition to their grant. So far, 14 green companies were offered equity for a preliminary total of € 36 million that will be negotiated on a case by case basis. 

Most green companies are young – almost half of them were founded between 2012 and 2017. A majority of 70% manufacture green technologies and products. 
Green innovators have attracted around € 730 million private investment after receiving their grant, which means that every 1€ invested in green companies by the EIC leveraged 1.72 € of private investment.

Most of the private investments were made in the energy, food and enterprise software industries. Five companies started floating on the stock market, mostly on Nasdaq First North, and eight companies were acquired by bigger players. 

Most of the funded companies are from Spain, Italy and the UK – as are most of the EIC-funded companies in general. However, most of the private investment rounds occurred in Germany, the UK and Croatia, which hosts a project that benefitted from a € 88 million investment in the clean tech electric car company Rimac Automobili by Huyndai and KIA. 

More support expected

More opportunities will soon be available for companies that support the European Green Deal through breakthrough innovations. 

one-off EIC Accelerator call for ‘green deal’ start-ups and SMEs is expected, whereby all applicants submitting for the 19 May 2020 cut-off will need to demonstrate how their innovation contributes to the goals of the European Green Deal. The 7 October 2020 cut-off for the EIC Accelerator Pilot will remain open to all innovations.
An advanced version of the amended EIC Work Programme is due to be released by the end of February, and the final version by the end of March, replacing plans for the year ahead in the current EIC Pilot Work Programme 2018 – 2020.

Discover all green innovations supported by the EIC Accelerator pilot in our datahub

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