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 EESC laments the severity of the money laundering phenomenon in the EU. Current European legislation is largely inadequate in the face of coordination failures and national divergences, and therefore strongly supports the Anti Money Laundering legislative package, in particular the creation and design of the new European Anti-Money Laundering Authority (AMLA) with direct supervisory powers.
The EESC believes that an economic transition from a model driven by growth to one predicated on sustainability is inevitable. Given the sheer complexity of and the huge challenges posed by this transition, the proposals for new indicators set out in this opinion are only one example of approaches that could be taken when it comes to tools for measuring the social, economic and environmental situation. A concise "Beyond GDP" scoreboard should be designed and incorporated into the European Green Deal scoreboard and the European economic governance process. Indicators that look beyond GDP must be able to do more than merely monitor and measure: they must inform policy development, improve communication and promote target setting.
The EESC considers that the European Union must overcome the COVID-19 crisis by building a new model for society, one which will make our economies more green, just and resistant to future shocks. European recovery funds must enable businesses, innovators, workers and investors to affirm their role as world leaders in the expanding clean energy markets.
The European Economic and social Committee (EESC) supports the Commission's intention as set out in its Communication: integration of the electricity system with the heat and transport system is vital to reach the goals of climate neutrality, security of energy supply, including reduction of energy imports, and the goal of affordable prices for Europe's consumers and the European economy.