The proposals are out for consultation until 20 May. More details can be seen on the SusChem blog.
I have previously flagged this initiative up on this blog, arguing that the funding system, through the cumbersome FP7 process does not work at all well for the chemicals industry. There are issues about the pre-competitive nature of the innovation supported, and the fact that projects have to include companies and institutions in several EU states -a proviso that is not reflected for example in the unified US market.
The green paper proposes a Common Strategic Framework (CSF) that would create a coherent set of instruments along the whole "innovation chain" starting from basic research, culminating in bringing innovative products and services to market, and also supporting non-technological innovation, for example in design and marketing.