Secretariat General of the European Commission

Engagement with Mr. Barroso

As invited by Mr. Barroso, President of the European Commission, Eurosif wrote to him in July 2009 regarding the sustainability of the European Institutions’ pension and retirement plans and whether they are managed in a responsible manner.

Eurosif believes that the Commission itself should act as leader in this respect and demonstrate its commitment to sustainable investing by disclosing whether and how ESG issues are considered in the way the European Institutions’ retirement schemes are managed. The current global financial crisis only creates greater importance on key ESG issues being properly incorporated into the financial markets going forward.

Download Eurosif's letter to Mr. Barroso

EU Sustainable Development Strategy (SDS)

Background

In June 2006, European leaders signed a renewed EU Sustainable Development Strategy (SDS) to invigorate the previous, faltering strategy agreed upon in Gothenburg in 2001. The renewed SDS underlines the need for better regulation and full integration of sustainable development in all policies, and identifies seven key challenges, with corresponding targets and actions (most of which are repetitions of targets already defined in other policy papers):

  • Climate change and clean energy;
  • Sustainable transport;
  • Sustainable consumption and production;
  • Conservation and management of natural resources;
  • Public health;
  • Social inclusion, demography and migration; and;
  • Global poverty and global sustainable development challenges.

Eurosif Position

In July 2007 Eurosif submitted a paper on the current state of sustainable investment in Europe for the EUSDS Progress Report that was later released by the DG Secretariat General – Sustainable Development Unit in October 2007 (see below).

In its paper, Eurosif describes sustainable investment, active share ownership, outlines the European SRI Market Trends and makes some recommendations to the Commission in order to broaden and deepen the impact of sustainable investment on the European Sustainable Development Strategy.

First Progress Report

The Commission published the results of its first review of the renewed SDS on October 24, 2007. The report concludes that both the EU and Member States have succeeded in putting in place many of the right policy frameworks. There is increasing convergence between the overarching long-term objective of sustainable development – focusing on quality of life, equity between generations and the long-term viability of European society - and the medium-term goal of growth and jobs under the Lisbon Strategy.

At European level, the report gives three examples of this convergence: the energy and climate change policy agenda being driven forward by the Commission based on the agreement at the European Council in March 2007; the single market, which demonstrates how market opening accompanied by social and environmental measures can improve quality of life; and the drive for better regulation, which assists coherence across policy areas by requiring the systematic assessment of economic, social and environmental impacts.

Delivery on the ground in reversing unsustainable trends needs to be significantly stepped up. The report confirms that the Union should continue to focus on the seven challenges identified in June 2006, but should give particular priority to climate change and clean energy. Only stronger action can bring the Union closer to the objectives set in the strategy. The report urges both the EU and Member States to focus on the effective implementation of the policies that will deliver measurable impact on the ground.

Christine Dalby from DG Secretariat General and who wrote the progress report discussed its results with Eurosif's Member Affiliates at our last Advisory Council Meeting held on November 14, 2007.

For more information, you may download

(Last Updated: December 2007)