The European Commission has released ProtectEU, a European Internal Security Strategy to strengthen the security of EU citizens, businesses, and government entities. The strategy is released with the aim of laying out an ambitious vision and work plan for the years to come, with a better legal toolkit, more information exchange, and closer collaboration.
The ProtectEU framework may create opportunities for private market firms and asset managers and impact investors in the internal security sector. It is expected to create a more secure environment for businesses. However, it can create more regulatory pressure for companies operating in Information Technology, financial services, manufacturing, and more sectors.
Let's explore the ProtectEU framework in detail.
About the ProtectEU
ProtectEU is a framework designed to unify and support the existing framework of EU internal security by integrating advanced technologies and improving cooperation among member states. Recognizing the interconnected nature of modern security challenges, this strategy adopts a holistic approach to safeguard critical infrastructure, digital spaces, and public safety. The ProtectEU seeks to address threats such as organized crime, cyberattacks, and geopolitical pressures that can destabilize economies and disrupt markets.
"Safety is one of the key prerequisites for open, vibrant societies and a flourishing economy. That's why we are launching today an important initiative to tackle better security threats like terrorism, organized crime, surging cybercrime, and attacks against our critical infrastructure. We will strengthen Europol and give law enforcement up-to-date tools to fight crime. But researchers, businesses, and even citizens can contribute to greater safety for all." said Ursula von der Leyen, President of the European Commission.
Key aspects of the ProtectEU
A mindset shift
The threat landscape needs a shift in mindset and a strong approach to the internal security of the EU. This includes:
- Assessing security and preparedness implications of Commission initiatives from the outset and throughout negotiations.
- Conducting regular threat analyses to inform the Security College and Council discussions.
- Providing consistent reporting to the European Parliament and Council for tracking the implementation of key initiatives.
Security through new ways of sharing intelligence
The EU is strengthening its capacity for high-quality situational awareness and threat analysis.
- The EU is developing regular overviews of the internal security threat landscape, building on various threat assessments, specifically those provided by EU agencies.
- Improve information sharing by Member States with the Single Intelligence Analysis Capacity (SIAC) of the EU.
- Ensure better information sharing between Member States with EU agencies and other entities.
Tools for law enforcement and stronger JHA agencies
- The EU passed a new mandate to Europol, strengthening Frontex, Eurojust, and ENISA with cooperation between agencies.
- Enhancement of operating capabilities with a new Critical Communication system to allow for cross-border communication between authorities.
- A Technology Roadmap on Encryption and an Impact Assessment with a view to updating the EU's Data Protection Rules.
You can look over the European Internal Security Strategy here.
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