Boost investment in European-made tech

Europe should develop more European-made net-zero technology, biotechnology and digital infrastructure. For this purpose, the EPP Group wants to increase the €10 billion proposal for the 'Strategic Technologies for Europe Platform (STEP)' by a further €3 billion to make it more effective and introduce substantial changes to the original proposal. A parliamentary debate on STEP takes place in Strasbourg today, followed by a Plenary vote on Tuesday.

"If made right, STEP will be an important booster for technology in Europe to bring us closer to our climate goals for 2030 and 2050 and increase our technological sovereignty. As the EPP Group, we have done the necessary to create legislative coherence between this regulation and other important industrial policy dossiers, such as the Net-Zero Industry Act and the Critical Raw Materials Act. We also improved certainty for project developers to enable them to access funding, which was missing in the original proposal. With targeted amendments on research to the Horizon Europe regulation, we have also ensured that the European Innovation Council can continue to be the EU´s leading equity investor for important and strategic investments," says Christian Ehler MEP, the European Parliament’s lead negotiator and EPP Group spokesman on Industry, Research and Energy.

Adding provisions for better governance and accountability is essential, according to EPP Group spokesman on Budgets, José Manuel Fernandes MEP, “STEP is a starting point to properly support technologies made in Europe. We need to ensure that strategic technologies can access better funding opportunities. The much-needed strategic autonomy of the EU depends on a strong and ambitious approach to cater to the needs of our industries. Having a robust governance structure – the STEP Committee – that awards the STEP Seal to projects, contributes to objectives, and coordinates the existing funding opportunities, is of paramount importance. It's a matter of transparency, accountability and efficiency in the use of funds".

"We challenge the Council to act quickly rather than making constant proclamations. The STEP Regulation is essential towards the strengthening of the EU's strategic autonomy, and also for increasing our competitiveness and social cohesion", the MEPs added.

Following tomorrow's vote, the European Parliament stands ready to start negotiations with Member States on the final text of the Regulation.