No Green Deal without a Social Deal

Key points

The EESC considers that :

• There will be no "Green Deal" without an integrated "Social Deal". There are several key policy components necessary to guarantee a close link between the Green Deal and social justice;
• A Social Deal as an essential part of a New Green Deal is certainly not only related to "work". It is about income, social security and fiscal support for all who need it, including those without any access to work at all;
• Companies have to contribute to the Green/Social Deal within their particular capacities;
• One key component of such an approach is a strong and forward-looking social dialogue;
• This systematic understanding of the workers' voice in company decision-making regarding restructuring and innovation in the world of work should also be taken into consideration in the reform of the European Semester and the national resilience plans. EU trade policy could make greater use of this in the design of its common trade policy;
• Good corporate governance should be understood from the perspective of society, combining the "costs" that sustainability entails for a company with the benefits that society reaps from more sustainable corporate governance;
• The voice of all stakeholders, especially of workers as constituent elements of the company, must be an integral part of efforts to foster the sustainable and competitive companies of tomorrow in a healthy environment;
• Creation of long-term value as a duty of executive directors by pursuing long-term interests and, therefore, improving directors' accountability towards company sustainability should be encouraged;
• The political discussion should be opened at all levels on how to create a new EU Stakeholder Framework. The European Parliament and the upcoming EU Council presidencies need to lead this debate on how the interaction of all interest groups can be mapped out politically and also, eventually, in an improved legal EU Stakeholder Framework as one of the key prerequisites for climate-friendly and resilient, economically successful, long-term sustainable – and at the same time socially responsible – companies;
• The EU Commission and the EU Parliament should follow up with the discussion on an EU framework directive for minimum standards on information, consultation and worker board-level participation in cases where companies adopt EU company law;
• The debate towards a better EU framework for good corporate governance should also insist on the link to active labour market policies and their regional impacts, on effective public employment services, social security systems adapted to changing patterns of labour markets and on setting appropriate safety nets in terms of minimum income and social services for the most vulnerable groups.

For more information please contact the INT Section Secretariat.