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:
The rise of geopolitics and reconfiguration of globalisation
The quest for a sustainable economy and wellbeing
Increasing pressure to ensure sufficient funding
Growing demand for skills for the sustainable future
Increasing cracks in social cohesion
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.