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 .
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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.
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.
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.
The annual Union work programme for European standardisation for 2020 identifies priorities for European standardisation. The EESC agrees with the Commission that standardisation is crucial to the strategy for the single market and that it should be constantly updated. Moreover, the EESC considers that there is an urgent need to modernise the European standardisation system to meet global challenges with an innovative process of cooperation.
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 coronavirus outbreak will have a deep and negative impact on the achievement of the SDGs and the objectives of the European Green Deal. For this reason, the EESC insists on the need to face this urgent threat as soon as possible and focus our recovery efforts without undue delay on the SDGs and the Green Deal. The Sustainable Europe Investment Plan (SEIP) is the first comprehensive policy measure to fulfil very ambitious targets of carbon neutrality until 2050 in line with the EU Green Deal. While saluting the Green Deal's ambitions, the EESC regrets the lack of consistency with the budgetary allocation within the next Multiannual Financial Framework and also expresses its doubts about the effectiveness of climate mainstreaming in all EU programmes and calls on the Member States to involve civil society organisations in pushing for climate-proof EU spending.
This exploratory opinion of the incoming Croatian Presidency should concentrate on the question, how the achievements and advantages of the Single Market could be better presented to the citizens and businesses in order to ensure their support in further efforts towards developing a comprehensive and long-term Single Market strategy for the future.