| Author (Corporate) | Council of the European Union, European Parliament |
|---|---|
| Series Title | Official Journal of the European Union |
| Series Details | 2024/795 |
| Publication Date | 29/02/2024 |
| Content Type | Blog & Commentary, Legislation, News, Policy-making |
Summary:Regulation (EU) 2024/795 - adopted by the co-legislators on 29 February 2024 - establishing the Strategic Technologies for Europe Platform (STEP). It amends Directive 2003/87/EC and Regulation (EU) 2021/1058, Regulation (EU) 2021/1056, Regulation (EU) 2021/1057, Regulation (EU) No 1303/2013, Regulation (EU) No 223/2014, Regulation (EU) 2021/1060, Regulation (EU) 2021/523, Regulation (EU) 2021/695, Regulation (EU) 2021/697 and Regulation (EU) 2021/241. Further information:This Regulation establishes a Strategic Technologies for Europe Platform (STEP) to support critical and emerging strategic technologies and their respective value chains in relevant sectors. The Act lays down the objectives of the STEP, the amount of financial support available under the STEP, and rules for the implementation of the Sovereignty Seal and Sovereignty Portal as well as for reporting on the STEP objectives. This Platform is a response to the need for a more structural solution the investment needs of industries across the European Union (EU), and it seeks to preserve a European edge on critical and emerging technologies relevant to the green and digital transitions. It should also help to mobilise private capital to support the competitiveness of European business in these technologies in the global arena, which in turn should lead to domestic capacity building. STEP builds on existing funding programmes, and it comprises a dynamic structure to direct existing funding towards STEP projects and speed up implementation in areas which have been identified for the EU's leadership. A Sovereignty Seal is awarded to projects contributing to the STEP objectives and it enables better access to funding across EU-funded instruments. The Sovereignty Portal is an online One-Stop-Shop aimed at support projects' promoters and Member States in their STEP investments supported by the different EU funds. The initiative was first announced during the 2022 State of the European Union (SOTEU) address. The draft law was adopted by the European Commission on 20 June 2023 as part of the mid-term review of the Multiannual Financial Framework (MFF) for the period between 2021 and 2027. The plenary of the European Parliament adopted a negotiating position on this proposal on 17 October. The Council of the European Union adopted a partial general approach on 10 January 2024, excluding budgetary considerations negotiated as part of the proposed amendments to the MFF. National leaders reached an agreement on the mid-term review of the MFF on 1 February 2024, and on 7 February the co-legislators agreed on a compromise text for this file. This was formally endorsed by the Parliament on 27 February and by the Council on 28 February. The Act was signed by the co-legislators on 29 February 2024 and published in the Official Journal on the same day. |
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| Source Link | Link to Main Source http://data.europa.eu/eli/reg/2024/795/oj |
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| Subject Categories | Business and Industry, Economic and Financial Affairs |
| Subject Tags | EU Budget, Industrial Policy, Multiannual Financial Framework [MFF] |
| Keywords | MFF 2021-2027 |
| International Organisations | European Union [EU] |
