The EESC welcomes the fact that the package of regulations on the future multiannual financial framework includes the InvestEU proposal to strengthen investment activity in the EU, including long-term investment projects that are of high public interest, while also respecting the sustainable development criteria. In order to guarantee that this programme operates successfully, the Committee underlines the importance of the involvement of civil society organisations and social and economic partners. The EESC appreciates the European Commission's efforts to create an umbrella financial instrument by the InvestEU programme that will result in unified management, enhanced transparency and potential for synergies. The EESC appreciates the fact that, in addition to promoting sustainable infrastructure, small and medium-sized enterprises (SMEs) and research and innovation, the InvestEU programme also focuses on social investment and skills.
The EESC considers the proposed European Investment Stabilisation Function (EISF) as a step towards closer euro area integration, and possibly an attempt to encourage non-euro Member States to join the single currency. However, the EESC is of the view that a well-crafted union-wide insurance scheme that acts as an automatic stabiliser amidst macroeconomic shocks would be more effective than the proposed EISF.
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The EESC welcomes and endorses the rationale behind the establishment of the Reform Support Programme. However, the EESC believes that, in order to launch the programme successfully and obtain the expected benefits, better responses are needed to a number of still open questions.
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The EESC welcomes these proposals on sovereign bond-backed securities (SBBSs), which fit into the broader context of completing the Banking Union and building a Capital Markets Union (CMU). Moreover, the proposals also have the potential to make a positive contribution to financial stability and resilience. The EESC has been strongly advocating a weakening of the link between banks and their home countries ("sovereigns") and therefore welcomes that SBBSs aim to contribute to this. The EESC considers that in conceptual terms, the idea of SBBSs is an attractive one and feels that the only way to find out whether banks will switch from bonds from their home countries to SBBSs for their investments and whether investors will be prepared to buy "junior" tranches in sufficient quantities to justify the creation of SBBSs, is to test this new financial instrument - the SBBS - on the market.
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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.
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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.
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The EESC considers the European Regional Development Fund (ERDF) and the Cohesion Fund (CF) as pivotal factors to achieve sustainable development in the EU and therefore strongly regrets the cut of 12% in the ERDF and 46% in the CF.
The EESC strongly rejects the Commission's proposal to cut the EU's budget by 10% in real terms and urges the Member States (MS) to find solutions that allow this budget to be kept at the same level as the 2014-2020 programming period.
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The EESC supports the EU in its efforts to remain a major independent space power and agrees with it acquiring financial resources commensurate with its ambitions.
The EESC also welcomes the importance attached to "space surveillance and tracking" and to the Govsatcom system, calls for close attention to be given to the project of extracting and retrieving natural resources outside the earth's orbit (space mining) and proposes an appropriate campaign, so that citizens realise the added value of European space activities, which are present in their daily lives.
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The EESC believes that the amount earmarked for the customs programme may prove to be insufficient in view of the breadth of the proposal's objectives and the targets set. It recommends Member States to increase their willingness to tackle fraud together.
The EESC welcomes in principle the integration of five predecessor programmes (and of the European Statistical Programme, though that extends beyond the scope of the single market) and a number of budget headings into a single market programme, as it can be expected to produce synergies and improve cost efficiency. Due to steadily increasing volume of work in consumer protection policy EESC urges the Commission to further develop cooperation with consumer networks and organisations and to increase funding for consumer protection. It is also concerned that the negotiations on the EU financial framework could result in cuts and thus in a lower budget than in the past.
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The EESC is pleased to observe that many of its recommendations for the Horizon 2020 mid-term evaluation have been taken up in areas such as collaborative research and mobility, steps to strengthen innovation, overcome disparities among regions, promote science and innovation activities among citizens, remedy low success rates and reduce the administrative burden.
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.
Download — Parecer do CESE: European Finance-Climate Pact (own-initiative opinion)
The aeronautical industry is one of the EU's key high-tech sectors in the global market. The industry directly employs 500 000 people in high quality jobs (1 million adding indirect jobs) and consists of an ecosystem of large and small companies covering the entire spectrum of aeronautics. (Source: ASD Facts and Figures)
The EU aeronautical industry is a technological leader in its field and currently has a market share of about one third of the global market. The industry provides a positive contribution to the EU trade balance (EUR 46 billion in EU exports). (Source: ASD Facts and Figures)
This leadership should not be taken for granted since the industry faces many challenges.
Download — Parecer do CESE: Future challenges and industrial change facing the EU Aerospace Sector (own-initiative opinion)
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 EESC supports the proposals that enhance the international competitiveness of SMEs, reduce cost, harmonise and simplify processes for registration, filing of company changes and conversions. It believes that guidance by the Commission to the Member States on transposition of the directives is useful.
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In its opinion, the EESC welcomes the commitment to the renewed European Solidarity Corps (ESC) with an increased budget and target for participation. It also appreciates the merging with the EU Aid Volunteers. The Committee believes that in the future, the EU needs to develop two independent support programmes, one for youth and one for volunteering.
The EESC makes a series of concrete recommendations, such as: 1) the employment strand of the ECS needs to be subject to strict regulation and regular review; 2) there should be no age restriction on the ESC as it should be a support for volunteering; 3) the ESC should be restricted to the not for profit sector; 4)the main civil society platforms in the field (the European Youth Forum and the European Volunteering Centre) should be centrally involved in the regulation and oversight of the ESC.
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Download — Parecer do CESE: Establishing an exchange, assistance and training programme for the protection of the euro against counterfeiting for the period 2021-2027 (the ‘Pericles IV programme')
