Sezzjoni għall-Unjoni Ekonomika u Monetarja u l-Koeżjoni Ekonomika u Soċjali (ECO) - Related Opinions

This additional opinion on the Annual Sustainable Growth Strategy 2022 takes into account the ongoing Semester process and provides input for the next cycle. This is particularly important this year. Since Russia´s attack on Ukraine the geopolitical landscape has dramatically changed, and policy has been quickly adapted, as reflected in the Communications on RepowerEU and Our European Growth Model. The EESC also points to the outcome of the Conference on the Future of Europe, which envisages further political measures, including a convention to assess the need for Treaty changes. The Semester, which is itself undergoing a systemic change, has proved to be a credible framework for EU policy coordination during the pandemic. In the Spring Package, the implications of the war in Ukraine are again reflected comprehensively.

EESC believes that there is a need to have a clear and structured view of which funds are targeted to tackle climate change and how they are managed. With an approved budget of over EUR 330 billion in the current programming period, cohesion policy is the largest and most important investment tool in Europe. As 30% of both the Cohesion Fund and the European Regional Development Fund (ERDF) will need to be spent on projects for decarbonising our economy, cohesion policy has a crucial role in tackling climate change. Moreover, funds will also be made available under NGEU, as the green transition is one of the main targets of recovery and resilience after COVID-19.