The EESC strongly supports the goal of redirecting investments in such a way that they contribute to the EU's transition to a sustainable economy but calls for the social partners and civil society to be brought better on board in the design and implementation of sustainable finance. The EU green bond standard has the potential to yield significant economic benefits for both issuers and investors alike and help the green transition.
In its opinion, the EESC supports the European Commission's proposal, given its major socio-economic importance for the region. The maintaining of the suspension of customs duties on imports of industrial products, as well as the extension of the product categories it covers, is considered to be beneficial for the Canary Islands' economy, which has suffered particular economic damage in comparison with other EU regions due to the COVID-19 pandemic, especially in relation to domestic GDP volume.
EESC opinion: Proposal for a Council Regulation temporarily suspending autonomous Common Customs Tariff duties on imports of certain industrial products into the Canary Islands.
Micro enterprises and SMEs (MSME) in all fields need good conditions to survive the health and economic crisis and unlock their potential so that they can grow and create jobs. This opinion examines alternatives to address the administrative ("paper tax") burden on MSMEs, particularly in view of current transparency and disclosure measures to achieve the EU's social and environmental objectives.
EESC opinion: Reconciling ambitious sustainable and social objectives with an enabling environment for micro, small and medium-sized enterprises
The Commission's decision to create a Digital Single Market (to remove virtual borders, boost digital connectivity, and make it easier for consumers to access cross-border online content) is therefore a welcome move. But what does it mean for SMEs in practice? How will this affect their day-to-day running? And, given the lessons learnt from previous rapid changes, how do we make an "inclusive" success of the Digital Single Market?
EESC opinion: The digital single market - trends and opportunities for SMEs (own-initiative opinion)
Europe is embarking on a transition towards climate neutrality and digital leadership. European businesses can lead the way as we enter this new age, as they has done in the past.
Small and medium-sized enterprises (SMEs) are essential to Europe’s competitiveness and prosperity. Based on the new SME Strategy, the EU will support SMEs by:
encouraging innovation through new funding and digital innovation hubs as part of the sustainable and digital transitions;
cutting red tape by reducing barriers within the Single Market and opening up access to finance;
allowing better access to finance by setting up an SME Initial Public Offering Fund (with investments channelled through a new private-public fund) and the ESCALAR initiative (a mechanism to boost the size of venture capital funds and attract more private investment).
Petru Sorin DANDEA (Workers - GR II/Romania), Tommaso DI FAZIO (/Italy), Petr ZAHRADNÍK (/Czech Republic)
Workers - GR II
The EESC strongly supports the Commission's proposal – Next Generation EU – as a specific tool for a quick and effective recovery.
The EESC takes a very positive view of the Commission's two main decisions:
to introduce an extraordinary financial recovery instrument as part of the multiannual financial framework
to raise common debt, which will be repaid over a long period of time, and prevent the extraordinary financial burden from falling directly on the Member States in the short run.
The EESC strongly welcomes the fact that the newly proposed instrument should be closely coordinated with the European Semester process, and furthermore welcomes the Commission's proposal to introduce additional genuine own resources based on different taxes (revenues from the EU Emissions Trading System, digital taxation, large companies' revenues).
EESC opinion: Recovery plan for Europe and the Multiannual Financial Framework 2021-2027
The European Union and its Member States must stand united to protect their sovereignty. The EESC firmly believes that if Europe is to maintain its leading role in the world, it needs a strong, competitive industrial base. The EESC recognises the crucial importance of shifting to a carbon-neutral economy and of reversing the current curve of biodiversity collapse. Without a green industrial strategy as a cornerstone of the Green Deal, the EU will never succeed in reaching a carbon-neutral economy within one generation. The new industrial strategy must ensure the right balance between supporting European businesses, respecting our 2050 climate neutrality objective and providing consumers with incentives to shift consumption to sustainable goods and services .
While acknowledging the progress made by the Commission in taking account of smaller and less complex banking institutions in its recent regulatory measures, the EESC believes it would be useful to further increase the proportionality of banking rules, without sacrificing the effectiveness of prudential rules.
The EESC endorses the recent decision to push back the date for implementing the Basel III accord, and feels that when the time comes, the new provision on capital requirements should be transposed in a way that caters properly for the diversity of banking business models in Europe.
EESC opinion: Inclusive and sustainable Banking Union