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.
The long-term challenges have lost none of their significance – be it climate breakdown, species extinction, the increase in inequality, or demographic change. The challenge is to craft a strategic approach that can set the course for long-term success.
The worldwide and sustainable transition of energy systems will only succeed if the economic and technological capacities of all countries are involved. Few developing countries have considerable production capacities for climate-friendly technologies. If the creation of attractive enabling environments in the global South goes hand in hand with new ways of careful export support in the global North, this will work as a global and fair Green New Deal.