Last updated: October 11, 2024
Advertising poster for „Next Generation EU” in Brussels.
In an open letter, companies and civil society organizations from all over Europe are calling for a comprehensive investment package to achieve the climate and biodiversity goals of the Green Deal.
A Association of 47 companies, NGOs and associations from all over Europe demands from the EU Commission more money for social-ecological transformation. Overall, according to a report published this week open letterneed it a “greener EU budget”to achieve the climate and biodiversity goals set out in the Green Deal. As the core of one comprehensive investment package propose a successor to the Corona economic stimulus package NextGenerationEU before.
Public sector investments are essential for transformation
The signatories, which include, among others, Corporate Leaders Group (CLG), Danone, Pepsico, Uber, Transport & Environment (T&E) und der WWF include, emphasize in their letter that In addition to private investment, public funding is also essential to “manage a just transition and mobilize private capital”.
However, such an investment package would have to go far beyond what is currently provided for in the EU budget, said Xavier SolDirector of Sustainable Finance, Transport and Environment at T&E. Otherwise, not only climate and environmental goals would be jeopardized, but also food, water and energy security.
Green change as an opportunity for the European economy
Ursula WoodburnDirector of CLG Europe, also emphasized that the social-ecological transformation is more than just an obligation for European companies. Rather, the green transition is “an opportunity Innovation and competitiveness to promote”. But in her view, this requires decisive action and a clear financing strategy so that Europe does not jeopardize its leading role in the green economy. ch
