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2023 Strategic Foresight Report focuses on wellbeing and prosperity

On 6 July, Maros Šefčovič, Vice President of the European Commission, presented the 2023 Strategic Foresight Report.

The 2023 Report aims at “reconciling wellbeing and prosperity”.

To that end, it identified key challenges to overcome:

  1. The rise of geopolitics and reconfiguration of globalisation

  2. The quest for a sustainable economy and wellbeing

  3. Increasing pressure to ensure sufficient funding

  4. Growing demand for skills for the sustainable future

  5. Increasing cracks in social cohesion

  6. Threats to democracy

Additionally, the report outlines necessary actions to place sustainability and wellbeing at the heart of Europe's Open Strategic Autonomy, including but not limited to:

- Supporting the shift in production and consumption towards sustainability

- Strengthening cooperation with key partners

- Increasing investments.

On the later, the report emphasised the significant investment, around €620 billion annually, required to achieve the goals of the European Green Deal and the REPowerEU Plan.

The report also suggests reevaluating prosperity measurement beyond gross domestic product (GDP) and proposes the development of an index incorporating welfare factors.

To access the full report, please click here.


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