Von der Leyen’s new Commission sends 'strong signal' – I&P Denmark

Written by Natalie Tuck

18/09/2024

The presentation of the new European commissioners by Commission President, Ursula Von der Leyen, sends a “strong signal” according to Insurance and Pension Denmark (I&P Denmark).

Von der Leyen, serving as President for a second term, presented her proposed new European Commission yesterday, 17 September. Of a total of 26 commissioners, 10 are female and 16 are male.

In response, I&P Denmark said her proposed commission bodes well for the focus on climate challenges and a general strengthening of a safer and more secure EU.

“The new EU Commission – and Europe as a whole – has a crucial task to ensure security and competitiveness in our part of the world. Von der Leyen sends a strong signal today with her presentation to the team of commissioners," I&P Denmark CEO, Kent Damsgaard, said.

He is particularly pleased with the nomination of Dan Jørgensen as a candidate for the task of Commissioner for Energy and Buildings.

“As Commissioner for Energy and Buildings, Dan Jørgensen will be responsible for the key task of ensuring stable energy supplies and promoting the use of energy-efficient buildings. In many ways, Europe's energy supply has hung like a black cloud over Europe after the invasion of Ukraine," Damsgaard said.

However, turning its attention to regulation, I&P Denmark hopes the new Commission will tackle the increasing regulatory burden head-on.

"Our hope is that the new commission will go all out to fulfil Von der Leyen's earlier announcement to focus on less regulation and a general reduction of 25 per cent in reporting from the industry. This is something that really concerns the insurance and pension industry because the amount of new EU regulation is so extensive," Damsgaard said.

Therefore, the association supports Von der Leyen's proposal that Valdis Dombrovskis is assigned responsibility for economy and productivity – together with implementation and simplification.

"It is a strong signal that it will also be an experienced and strong commissioner who will be in charge of ensuring simplification and better implementation. This is a crucial part of the task of strengthening Europe's competitiveness and role as a continent that can attract investment.

“Similarly, I&P Denmark looks forward to working with the Commissioner-Designate for Financial Services, Savings and Investment Union, Maria Luis Albuquerque, who is a strong candidate with significant financial experience,” Damsgaard concluded.

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