No time to lose on the eco-economy
The economic downturn and global issues such as climate change could present new business opportunities, new markets and new jobs if Europe makes the transition to an eco-efficient economy, the EU's competitiveness ministers concluded at an informal meeting in Sweden on 14 and 15 October. Held by the Swedish Presidency of the Council of the European Union, the meeting followed on from discussions between energy and environment ministers in July. In line with the Lisbon Strategy, and with green technologies and industries at the heart of prosperity and job creation in the coming decades, the ministers stressed that the future EU strategy for growth and jobs should have the shift to an eco-economy at its core. Speakers insisted that the transition must begin now, as the expenses will rise the longer we wait. Europe may risk missing out on advantages in the international growth market if other economies take the initiative first. Using the current environmental and economic challenges to recharge its economic batteries could create considerable benefits and new opportunities for the EU, and an eco-efficient economy would lead to growth while using fewer natural resources. To achieve this, the meeting heard, a new approach must be applied across a broad range of industries. Many industries have great potential for developing an eco-based approach including energy- and resource-efficient technologies, renewable energy, environmental technology, information and communication technology (ICT) and sustainable transport. Creating the right market and business conditions is an important step towards creating an eco-economy, and the international climate change agreement due to be passed in Copenhagen in December will help smooth the path. The meeting heard that an international price on carbon was also an important incentive for markets to invest in greener technology. The meeting discussed key factors necessary for the shift to an eco-economy, which included the need to emphasise to business and industry the growth potential of such an economy, and making a commitment to research, innovation, development and the creation of new products that will service it. Other important tools include greener public procurement legislation and performance specifications. Mention was also made of small and medium-sized enterprises (SMEs), which represent 99% of all companies in the EU. Because of their critical mass and influence, it is important that they are given the right framework conditions to smooth their way towards eco-efficiency. Barriers that need to be overcome on the road to an eco-economy include institutional and bureaucratic barriers, inadequate financing for eco-transformations in companies and inadequate knowledge of how to go about the transition.
Countries
Denmark, Sweden