The Europe 2020 strategy is the EU's growth strategy for this decade. This cross-cutting strategy sets out the EU’s political and financial priorities and aims to transform Europe into a smart, sustainable and inclusive economy by 2020.

The strategy sets out five targets for the EU to reach by 2020:

• employment: 75% of 20-64 year-olds should be in employment

• R&D/innovation: 3% of the EU's GDP (public and private) should be invested in R&D/innovation

• climate change: the EU aims to reduce greenhouse gas emissions by 20% (or even 30%) compared to 1990 levels, and aims to get 20% of its energy from renewable energy sources and increase energy efficiency by 20%

• education: reduce school dropout rates to below 10%; at least 40% of 30-34 year olds should have completed third level education

• poverty/social exclusion: reduce the number of people living in or at risk of poverty and social exclusion by 20 million

The Europe 2020 strategy identifies new means for boosting growth and jobs, outlined in seven flagship initiatives:

Smart growth

• digital agenda for Europe

• innovation union

• youth on the move

Sustainable growth

• resource-efficient Europe

• an industrial policy for the globalisation era

Inclusive growth

• an agenda for new skills and jobs

• European platform against poverty

We believe that, with the right support, cities can play an important role in delivering on the Europe 2020 targets.

Click here for more information on Europe 2020.