The European Union faces the enormous challenge of having to achieve the necessary climate targets it has set itself, while at the same time increasing industrial competitiveness and ensuring public services of general interest. A sustainable European financial architecture based on three pillars is needed to finance these green-social investments at EU level. It is presented in this policy paper.
This publication aims at contributing to the emergence of a transformative economic thinking, integrating environmental, social, and economic dimensions, after the wreckage of neoliberal economic thought that clearly has reached its date of expiry. It is the product of a collaboration of the Heinrich-Böll-Stiftung, the ZOE Institute for Future-Fit Economies, and Finanzwende Recherche.
This briefing is an overview of the EU’s plans to fund and boost climate action. It also provides policy guidelines and recommendations to EU institutions and national governments as to how to finance a European Green Deal and ensure a smoother transition to a climate neutral economy. Furthermore, it advises civil society organisations on how to engage in the process and ensure a consistent and independent monitoring of progress that will be made in the coming years.
