CC.0 :: Aurelien Romain / Unsplash
On 23 January 2020, the European Economic and Social Committee (EESC) overwhelmingly adopted an innovative ‘own initiative opinion’ (OIO) on the sustainable and inclusive ‘wellbeing economy’ that Europe needs.
The EU Council and the European Commission have a legal obligation to consult the EESC when passing new legislation. The EESC examines these proposals and draws up ‘opinions’ based on agreements reached by members. In addition, the EESC adopts OIOs on topics members believe to be important for the interests of EU citizens.
This OIO calls for a “new vision of prosperity for people and planet based on the principles of environmental sustainability, the right to a decent life and the protection of social values”. As expert to the rapporteur, Tim Jackson, Director of CUSP and Author of Prosperity Without Growth, has worked closely with the EESC to help craft the opinion.
“I’m absolutely delighted by the vote,” said Prof Jackson. “It lays the foundations for a far-reaching transformation of Europe’s economic vision for the future.” The Committee highlighted that building the wellbeing economy must start by adopting ‘a precautionary approach in which macroeconomic stability does not depend on GDP growth’ and proposed the development of new indicators of economic performance and social progress.
Its detailed proposals include a review of the EU’s fiscal and monetary rules, an end to perverse subsidies and action ‘to address hyper-consumerism’ across Europe. It also proposed the adoption of a Living Standards Framework and the introduction of a Wellbeing Budget for the EU.
The plenary session made only one amendment to the draft document—noting that the newly appointed EC President, Ursula von der Leyen’s recent speech on a European Green Deal ‘opens up a window of hope for the EESC’s proposals included in the present opinion’. The amended opinion was adopted by 100 votes for and 8 against, with 9 abstentions.
Links
- For further details and the full position paper please see the EESC website.
- For wider reading on the wellbeing eocnomy agenda, please see the CUSP website.
