AmCham EU

Imagine if Europe had never been introduced to the TV show ‘Game of Thrones’ – or if Ed Sheeran was completely unknown to American audiences. This grim hypothetical world could very well have been the reality if data transfers between Europe and the United States did not exist.

Believe it or not, the success of the EU's green and digital transitions rests on the responsible sourcing of the materials you last read about in a chemistry course while studying the periodic table.

It’s been two years since the UK left the EU’s legal and institutional framework and along with it, the Single Market, the Customs Union and a host of other economic, scientific, educational and social initiatives. As 2023 begins, governments, businesses and citizens on both sides of the Channel are still grappling with the fallout. 

For Europe and the world, 2022 was a tumultuous year. The undercurrents of uncertainty that defined last year have not disappeared – Russia's war on Ukraine, higher energy prices, looming trade tensions and the prospect of economic slowdown will continue to be top of mind for businesses, consumers and policymakers across the continent.

A decade of digital innovation has reshaped the way the world works. Over the course of the last ten years, Europe's digital economy has undergone massive changes – from the rise of digital services to the growing importance of big data and artificial intelligence.

The extent of due diligence

Let’s say a consumer wants to know what’s in the granola bar that he or she is about to eat. Easily enough, one can flip the packaging around and read through the information, ranging from the number of calories to the list of ingredients and their micros and macros.

As the EU debates a Carbon Border Adjustment Mechanism (CBAM), the world will be watching for its impact on international trade, European industry’s competitiveness and global climate objectives.

Proliferation of labelling requirements for waste disposal across the EU Member states is impeding recycling efforts. The revision of the EU’s Packaging and Packaging Waste Directive provides a chance to design an EU-wide approach to waste sorting and empower consumers by putting them at the centre of recycling efforts.

In a union built on the principles of the rule of law, recourse to litigation in the event of disputes is an essential ingredient of the justice system. However, access to the justice system is not always equitable: all too often, the (in)ability to bear the costs of legal action is a determinant factor of disputes.

As global food insecurity rises, innovation will be key to the agri-food sector's ability to feed the world. Regulators and risk assessors have a vital role to play for a sustainable, secure and trusted industry capable of feeding more mouths with a smaller footprint.