The EU annual green investment gap alone is estimated to be over 520 billion euros, but our outdated fiscal rules are handcuffs. It’s time to put environmental, social and gender justice goals at the heart of EU economic governance and policy and enable the shift towards a wellbeing economy. Check our Beyond GDP briefing, manifesto and our wellbeing economy report.
Today, the EU uses 15 tonnes of resources per capita annually, as if we had almost 3 planets. Recycling is not enough: we need to cut on resource use by wasting less, sharing more, and making daily products last longer. It’s time to set binding targets to reduce material footprint by 30% by 2030 and 50% by 2040 on top of GHG emissions reduction targets. Check our ‘Green mining is a myth’ report and urban mining video.
Our nitrogen and phosphorus overshoot comes from overproduction and overconsumption of animal proteins. We need less and better animal farming, circular and nature-friendly nitrogen and phosphorus management and healthy sustainable diets, with less animal proteins. Learn more here and here.
With a graph shaped like a familiar pastry, the ‘doughnut economics’ model developed by economist Kate Raworth aims to boost the wellbeing of all within planetary boundaries.
The IPCC’s climate scientists and the European Environment Agency have recently upped their language on the urgent need for alternative economic models, both mentioning ‘doughnut economics’ as a viable alternative for sustainable development.
Reducing our demand for materials and fossil fuel energy is even cited as something that will “help achieve well-being for all”. Yet EU and national policies are still focused on GDP growth at any cost.
The EU is so committed to economic growth that its executive body, the European Commission, has a fully dedicated department called DG GROW. But the endless growth model is well past its trend: it is time for a change in focus – and why not for a rebrand from DG GROW to DG DOUGHNUT?
It is, after all, a sweeter deal!
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