SDGs and Initiatives for Sustainable Global Value Chains - Related Opinions
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 EESC supports the Commission's Action Plan on financing sustainable growth, aimed at reorienting capital flows towards sustainable investment, and welcomes the legislative proposals stemming from it, on fiduciary duties, a taxonomy and benchmarks. The proposed gradual approach for its implementation, beginning with the work on a European sustainability taxonomy, is preferable. However, a subsequent extension of the initial taxonomy, based on environmental aspects, to social sustainability and governance goals will be necessary. Attention should be paid to the feasibility and proportionality of legal obligations.
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.
The future Austrian Presidency of the Council has requested the EESC to draw up an exploratory opinion on the Bioeconomy, and how it can contribute to achieving the EU's climate, energy goals and the UN's sustainable development goals.