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.
The Commission’s 2012 Communication on "promoting the cultural and creative sectors for growth and jobs in the European Union" was a milestone in the recognition of the economic, social and cultural importance of these industries by the European institutions. This Communication was accompanied by two staff working documents (SWD) — one relating to the competitiveness of high-end industries , and the other to the competitiveness of the European fashion sector . This was followed by an action plan on the competitiveness of high-end industries and the European fashion sector.