The European Committee of the Regions (CoR) has emphasised the need to foster a sustainable and business-friendly environment for small and medium-sized enterprises (SMEs) in the EU. For instance, Regional Innovation Valleys is an initiative that looks promising. During a recent meeting, CoR members highlighted the importance of promoting sustainable transitions among SMEs, ensuring access to finance for their green initiatives, and strengthening regional ecosystems.
Addressing SME Challenges and Sustainable Transition
In a draft opinion on the SME Relief Package and BEFIT, CoR members recognized the challenges facing SMEs amid volatile economic conditions, including supply constraints, labour shortages, and unfair competition. They stressed the role of local and regional authorities in creating a business-friendly environment for SMEs, providing stable regulations, and fostering regional networks and clusters.
Recognizing the potential of SMEs in driving sustainability, CoR members noted that most European SMEs are investing in their sustainable transition but face difficulties accessing financing and complying with reporting requirements. They called for increased incentives and simplified regulations to enhance banks’ capacity to provide sustainable financing to SMEs.
Regional Innovation Valleys to Connect Regional Ecosystems and Promoting Knowledge Exchange
To further strengthen regional ecosystems, CoR members advocated for international knowledge exchange between SMEs and regional governments. They proposed the development of new tools, such as Regional Innovation Valleys, to connect SMEs with funding opportunities and collaboration platforms.
Achieving Sustainable Development Goals at Local Level
In a debate on the Sustainable Development Goals (SDGs), CoR members highlighted the importance of implementing these goals at local and regional levels. They acknowledged the progress made at the local level but expressed concern about the slower pace of implementation at EU and national levels. They urged the European Commission to formulate an overarching EU strategy for SDG implementation.
Focus on Local and Regional Implementation
The debate coincided with the conclusion of the Regions2030 Pilot Project, a collaborative effort between the European Commission, European Parliament, and 10 pilot regions to develop SDG monitoring indicators at the regional level. CoR members emphasised the value of pooling expertise and streamlining monitoring frameworks to accelerate SDG implementation at the local level.
Källa: EUs Committé of the Regions
