29. Highlights the need to link investment with innovation and entrepreneurship, maximising the opportunities offered by the digital economy and society and developing a smart European industrial policy; notes that this investment should take particular account of SMEs, which face the most difficulties in accessing investment, and should include practical measures to support start-ups and social entrepreneurship and innovation as a source of jobs for the future for young people;

29. Highlights the need to link investment with innovation and entrepreneurship, maximising the opportunities offered by the digital economy and society and developing a smart European industrial policy; notes that this investment should take particular account of SMEs, which face the most difficulties in accessing investment, and should include practical measures to support start-ups and social entrepreneurship and innovation as a source of jobs for the future for young people;

3. Considers it also important to invest in other areas such as renewable energy, the digital agenda, infrastructures, information and communication technologies and cross-border connectivity, and stronger and enhanced use of ‘innovative financial instruments’, particularly in respect of long-term investments; emphasises the need to strengthen EU industry as a central driver of job creation and growth; urges that, with a view to making EU industry strong, competitive and independent, the main focus should be on investment in innovation;

Investment in education, research and innovation has the potential to create more wealth and jobs than it costs, and investment in innovation will help us tackle the great challenges that society faces.

1. Points out that successful implementation of the targets in the energy and climate package requires substantial financial commitment, in particular investment in innovation and research, and new ways of supplementing existing financing for initiatives tackling climate change, energy and raw materials’ supply challenges; stresses, therefore, the added value of adopting new financial instruments which serve a dual purpose by striking a balance between, on the one hand, the creation of necessary new resources and, on the other, the formulation of basic policies on the functioning of the markets, sustainable development, security of ener ...[+++]gy supply and climate change; welcomes, in connection with this, efforts by the Commission to find innovative means of financing and encourages Member States to explore ways of shifting taxation systems so they are based on carbon emissions, as this would create both revenues for the budgetary authorities and climate-friendly incentives for consumers and industry, thus lowering carbon emissions in the environment; highlights the importance of reprioritisation of existing means and of an appropriate regulatory framework incentivising private investment;

These strategic guidelines should give priority, for all Member States and regions, to those areas of investment that help to deliver the national reform programmes taking account of national and regional needs and situations: investment in innovation, the knowledge economy, the new information and communication technologies, employment, human capital, entrepreneurship, support for SMEs or access to risk capital financing.