Opinions with Diversity Europe - Group III members as rapporteur/co-rapporteur/rapporteur-general
This EESC opinion will respond to the European Commission's proposal for a regulation on establishing a European Climate Law and it will look into the role of citizens in driving the transformation towards climate neutrality.
This opinion deals with three of four megatrends at the heart of the new Commission priorities: climate change, biodiversity loss and globalisation. While the European Green Deal will result in higher environmental standards with, for instance, stricter climate change targets, it is important that all Free Trade Agreements (FTAs) are not undermining these improvements by contributing to deforestation or biodiversity loss in other countries. As one of the world's largest importer of energy, agricultural goods and raw materials, the EU has contributed to deforestation and biodiversity loss in other countries.
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).
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 Commission's new Circular Economy Action Plan focuses on sustainable products, less waste, product value chains, and circularity in regions and cities, and the global level.
Europe is embarking on a transition towards climate neutrality and digital leadership. European industry can lead the way as we enter this new age, as it has done in the past.
Three drivers will transform our industry, support our small and medium-sized enterprises (SMEs) and keep Europe sustainable and competitive.
The partial paradigm shift inspired by the Sustainable Development Goals (SDGs) has already impacted economies, businesses and consumers. The time has come to scale up, using the common sustainable practices already being implemented as a basis for taking these sustainable practices to the next level.