#EuropeDay | #EUelections2019 | #FutureofEurope
Europe Day, held on 9 May every year, celebrates peace and unity in Europe.The date marks the anniversary of the historical Schuman declaration. Robert Schuman’s vision was to create a European institution that would pool and manage coal and steel production. A treaty creating such a body was signed just under a year later. Schuman’s proposal is considered to be the beginning of what is now the European Union.
The European elections are approaching (23–26 May 2019) and Brexit turmoil is highlighting the strong interconnexion of our European economies and the benefits of the EU Single Market. European Elections will mean a new European Parliament with new MEPs but also a new European Commission with new policy priorities.
In view of the upcoming EU elections in May this year, we have prepared a document presenting FERMA’s priorities for the policy-makers in the EU Institutions for the next institutional mandate (2019-2024).
This FERMA manifesto is meant to be a short and concise document to become our basis for discussions with incoming EU leaders in an attempt to obtain more political support for the development of professional risk management within all types of organisations.
EU policies in the field of Digital and Sustainability will be at the top of the European agenda for the next 5 years. Education in risk management and having a stable insurance market are key to support the resilience of European companies. This is why, we have structured our key priorities under 4 pillars, namely:
- A European leadership in digital to exploit growth opportunities
- A European leadership to secure transition to a sustainable economy
- A European leadership in risk management education
- A European leadership for a stable insurance market
The European Union, its companies and citizens, navigate a future full of unprecedented challenges and opportunities.
As risk managers, our role is to coordinate awareness and action across functions so the business is resilient whatever the nature of the threat.
We wish to bring our unique expertise in Enterprise Risk Management (ERM) to support EU policy makers over the next institutional mandate to respond to the future with confidence and support the transformation and resilience of Europe’s economy.
Our 4 pillars and what we ask policy-makers
For each pillar, we start from the current issues at European level. Then we indicate what is FERMA’s contribution in these fields and we make recommendations to the EU policy-makers. The Manifesto will be used to meet with key elected new MEPs and European Commission’s representatives.
READ FERMA’S RECOMMENDATIONS IN DETAIL BY CLICKING ON EACH PRIORITY
|WE ASK POLICY-MAKERS TO
|EUROPEAN LEADERSHIP IN DIGITAL TRANSFORMATION TO EXPLOIT GROWTH OPPORTUNITIES
|* Propose incentives to businesses to increase preparations for cyber risks.
* Anticipate the consequences of emerging digital tools on businesses.
* Develop solutions for SMEs because not all businesses can have a cyber security unit.
|EUROPEAN LEADERSHIP TO SECURE TRANSITION TO A SUSTAINABLE ECONOMY
|* Continue to support and drive forward the implementation of the Sustainable Development Goals and Paris Agreement.
* Acknowledge the value of professional risk management to improve resilience in the face of increasing disaster risks.
* Support risk management readiness in all organisations, public and private, and of all sizes.
* Support European businesses to produce data on sustainability that are reliable and comparable.
* Recognise that professional risk management can enhance sustainability and provide a competitive advantage for organisations seeking finance as the EU promotes investment in sustainable economic activities.
* Avoid a burden for SMEs. Reporting requirements must be proportional.
|EUROPEAN LEADERSHIP IN RISK MANAGEMENT EDUCATION
|* Encourage public and private organisations (notably SMEs) to develop their knowledge and competencies in risk management.
* Ensure a European-wide offer of risk management education.
|EUROPEAN LEADERSHIP FOR A STABLE INSURANCE MARKET
|* Promote consistent application of insurance regulation across member states, especially the proportionality principle with regard to small and less complex insurance ventures.
* Ensure any proposals to reduce the insurance protection gap, respect the proportionality principle and allow flexibility to enterprises with a mature risk management in place.