The transition to a low-carbon economy is the EU's goal and obligation and the EU committed itself to implement this transition in a socially just and cost-effective manner. It is thus important to examine all the feasible ways of financing climate neutrality, and possibly find new and innovative financing models in the near future.
The transition towards a more sustainable European future - Related Opinions
The EESC is currently drafting an opinion that aims to define what "the sustainable economy we need" should look like by exploring new economic models, investment decisions vis-à-vis technological advances as well as novel indicators for growth and competitiveness.
The proposed opinion will look at new approaches to more fairly distributing the burden of transformation towards a sustainable Europe.
The opinion tables proposals on how to enhance the European project and bring it closer to its citizens.
The EESC welcomes the reforms aimed at increasing high-quality investment and productivity growth, inclusiveness and institutional quality, and to ensure macro-financial stability and sound public finances. The EESC also welcomes the recognition of the need for investment focused on education and training and the need to strengthen the EU’s social dimension. However, it remains to be specified how these objectives are to be achieved. The EESC underlines that progress is very slow and proposals often rather modest in areas where new policies have been proposed, including fair taxation, the banking union and the functioning of the euro area. Moreover, the EESC recognises the importance of addressing climate change but measures so far adopted remain insufficient.
Finance needs to be mobilised to serve the goals of the Paris Agreement on climate change, create jobs and enable Europe to have a leadership in climate technologies. Moreover, money flows need to be re-directed from polluting technologies towards innovative solutions that will help Europe close the emissions gap. Admittedly, these investments will all be profitable in the long run, but how to "prime the pump"? The EESC's own-initiative opinion on the European Finance-Climate Pact will suggest solutions that can make it happen.
The annual revision of the Eurostat SDG Report must be an opportunity for broader dialogue with civil society concerning which indicators be included and what the target for each of these should be. This own-initiative opinion examines how organised civil society could be better involved in a more qualitative follow-up of the annual revision of the Eurostat SDG report as part of SDG monitoring and follow-up programmes that have been established.
Social sustainability is achieved through the reaffirmation of the role and value of the European social model, which represents the identity and specificity of our continent and which guarantees high social protection and citizenship rights for all. There is a clear connection between competitiveness, productivity and social sustainability: all stakeholders must commit themselves to promoting inclusive growth and at the same time foster conditions that are favourable for the world of enterprise, with the aim of creating more and better jobs.
This opinion is on the Annual Growth Survey 2018 (AGS), which establishes the main economic priorities and provides policy guidance for the following year. The European Commission published the 2018 AGS on 22 November 2017 as part of the European Semester Autumn Package. The 2018 AGS is focused on fostering job creation and growth and establishes three main priorities: boosting investment to support the recovery and to increase long-term growth; structural reforms for inclusive growth, upward convergence and competitiveness; responsible fiscal policies to support sustainability and convergence.