Episode 26: The European Green Deal - Reclaiming Public Investments for a real Socio-ecological Transformation

EU Watchdog Radio

Corporate Europe Observatory and Counter Balance

News, Politics

5 • 1 Ratings

🗓️ 22 October 2021

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this new episode of EU Watchdog Radio, we take a closer look at the European Green Deal (EGD) and in particular how it is being financed. Counter Balance released their latest report on October 20, 2021. In “The European Green Deal: Reclaiming Public Investments for a real Socio-ecological Transformation” Counter Balance shows that the financial basis of the EGD is undersized and wobbly at best.In this episode we talk to Xavier Sol, Director of Counter Balance about the main findings of th...

Transcript

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0:00.0	You're listening.
0:06.0	You're listening to EU, man on the moon, motion.
0:25.2	You're listening to EU Watchdog Radio.
0:33.8	Welcome to a new episode of EU Watchdog Radio.
0:40.4	My name is Hans Van Schare, media officer at Corporate Europe Observatory, also known as CEO.
0:47.6	It is October 21, and the various climate movements are preparing for the important climate summit which will take in Glasgow early November. Those who follow the climate policies debate are
0:53.5	deeply worried about the current climate policies,
0:57.0	or should I say non-polices, and so should you.
1:01.0	All kinds of experts like the scientists of the IPCC told us that we have 10 years to curb greenhouse gas emissions,
1:09.0	and we should keep fossil fuels in the ground as much
1:12.2	as possible. Therefore, the European Union has declared climate policy its alpha and omega,
1:19.4	translated in the so-called European Green Deal. Now, our favorite quote from Ursula Wunderlein,
1:29.0	president of the European Commission,
1:32.5	is when she presented the Green Deal in December 2019.
1:34.6	And I quote,
1:38.4	This is Europe's Man on the Moon moment.
1:47.0	And next to other EU leaders like Franz Timmermans, Ursula Wunderlein keeps repeating that the EU will invest no less than 1 trillion euros. That is a thousand billion.
1:54.0	And all this for a green and sustainable transformation. Doesn't that sound wonderful?
2:00.0	Well, when you dig a bit deeper, it seems
2:04.8	that European governments are relying almost exclusively on market-based solutions
2:09.8	and the financial markets. So yes, saving the planet and the climate, of course, but only if some from the private
2:19.5	sector can make a profit out of it.
	...

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