The EESC issues between 160 and 190 opinions and information reports a year.
It also organises several annual initiatives and events with a focus on civil society and citizens’ participation such as the Civil Society Prize, the Civil Society Days, the Your Europe, Your Say youth plenary and the ECI Day.
The EESC brings together representatives from all areas of organised civil society, who give their independent advice on EU policies and legislation. The EESC's326 Members are organised into three groups: Employers, Workers and Various Interests.
The EESC has six sections, specialising in concrete topics of relevance to the citizens of the European Union, ranging from social to economic affairs, energy, environment, external relations or the internal market.
believes that the EU green bond standard has the potential to yield significant economic benefits for both issuers and investors alike, because the proposal aims to create a universal, credible and streamlined mechanism for the issuance of green bonds, minimising informational asymmetries while conveying significant reputational benefits to issuers;
considers that the alignment of such bonds with the EU Taxonomy Regulation makes them suited to funding economic activities that support the transition towards more sustainable and decarbonised economies;
is however of the view that one should not underestimate the challenge of issuers complying with the standards in the EU Taxonomy and a situation where private issuers may prefer alternative green bonds and less onerous certification processes needs to be avoided;
fears that the proposed reporting and compliance procedures may have a disproportionate financial impact on SMEs, who may find the EU green standard to be too punitive, and hence recommends a pragmatic approach in terms of the supervision and reporting requirements;
is of the opinion that access to EU capital markets and vice versa should be based on the alignment of taxonomies across jurisdictions in- and outside the EU, otherwise, the voluntary green bond standard is unlikely to become a standard for the global green bond market;
welcomes the requirement under the EU taxonomy for investments to meet the do-no-significant-harm (DNSH) and minimum safeguards, given the continued need to prioritise the green transformation alongside social protection and safeguarding of human and workers' rights, and proposes a monitoring committee to supervise the dynamics of the green bond market.