European Economic
and Social Committee
Investment Plan must live up to Green Deal's ambitions
Europe's organised civil society calls for readjustment of EGDIP and JTF
The EESC calls for a reinforced EU budget for 2021-2027
The budgetary provisions for the Green Deal under the new MFF are insufficient,said Petr Zahradník, co-rapporteur for the EESC opinions on the EGDIP and on the Just Transition Fund (JTF) and amendments to the Common Provisions Regulation.
The next EU budget must live up to the ambitions of the Green Deal and a Recovery Plan. It should be reinforced and its spending ceiling temporarily expanded to 2%. In the EESC’s view, this would provide the financial resources needed and could support the issuing of community bonds as part of a strong recovery plan.
The budget increase could be made up either by introducing new own resources or by increasing the contributions from the Member States.
Civil society proposes measures to raise investments for a just transition
We need appropriate tax treatment for crowdfunders and donors to complete the stimulus policy. An efficient and integrated Capital Markets Union and Banking Union could also play an important role. The EESC therefore advocates completing Economic and Monetary Union.
State aid should assist the transition to a greener and more inclusive economy. It should be used to promote employment among those who are often cut off from the open labour market. Public investment in environmental protection and climate change should be excluded from the constraints of the Stability Pact.
Civil society must have a say in the just transition
Education and training are key to the transition to a just and green economy
Member States should also enhance financial education programmes by including sustainable finance,said Carlos Trias Pintó. This could further encourage public administrations to introduce tax incentives for public and private investment in green initiatives, which are in the public interest and have a positive social impact, and guarantee informed investment choices by private and public investors.