The European Union now plays a greater role in regulation policy implementation |
The European Union now plays a greater role in regulation policy implementation
In today’s increasingly regulated environment, it is crucial that businesses proactively participate in the legislative process to impact decisions of key legislators and institutions. This requires depth of information, a game plan, and impeccable timing.
To use our embedded media player, please install the latest version of Adobe Flash Player. You can also download the podcast file.
In today’s increasingly regulated environment, it is crucial that businesses proactively participate in the legislative process to impact decisions of key legislators and institutions. This requires depth of information, a game plan, and impeccable timing.
Increased influence of the European Parliament
The EU lawmaking process is complex. It involves:
- The European Commission as initiator, comprising 27 commissioners that represent each member state government, and lead staff of European public officials
- A council of representatives of the EU member state governments
- Key legislation adopted by the European Parliament (EP)
Impact on businesses:As the EP increases in relevance, businesses need to be prepared to inform and influence the governing body. It is vital that organizations take into account their business on a wider public interest scale, rather than through a lens of narrow self-interest. To a certain extent, there is increased accountability of the European lawmaker; the EP is subject to direct elections.
Overarching aimsThe EU 2020 strategy sets out smart, sustainable, and inclusive growth as the overarching aim. Faced with changing demographics, mature industries, and preservation a of the social market economy, Europe needs growth. This time, the aim is to make the European Council (i.e., the governments of the different EU member states) responsible for reaching targets.
What are the targets?
- Three percent investment of GDP, both public and private in R&D
- “20/20/20” climate/energy targets the reduction of greenhouse gas emissions by 20 percent, or 30 percent if other developed countries commit to comparable reductions, and if developing countries contribute. (Compare this to 1990, when a 20 percent increase was experienced in shares of renewable energy in energy consumption and energy efficiency respectively.)
What are the key initiatives? - The “Digital Agenda” - speeding up the rollout of high-speed Internet and working toward a digital single market
- An industrial policy for the globalization era
Guest
- Hendrik Descheemaeker, Deloitte Belgium’s Global Managing Partner for European Regulatory Affairs
About your host
The Deloitte 20/20 Global Shift podcast series is hosted by Jeff Zwier, DTTL Associate Director for Business Line Communications
