Issue link: https://maltatoday.uberflip.com/i/357188
maltatoday, SUNDAY, 3 AUGUST 2014 Opinion 23 maltatoday, SUNDAY, 3 AUGUST 2014 Leo Brincat T he commitment of the Italian government at the helm of the EU Presidency on the Green Economy is strong indeed. This is expected to be further reinforced when Council meets again next October. The fact that Ministers of the Environment and Labour sat side by side to tackle this issue was in itself a definite plus. Even more encouraging was the fact that the keynote speakers from Bocconi University, the OECD, Eurostat and ILO all spoke in the same language when addressing the Green Economy as the way forward for EU countries and beyond. Interestingly at the same time that this two day discussion found itself underway at ministerial and expert level, the EEA – the European Environment Agency – who were also present in Milan through their Director General who had visited us in Malta only a few months ago, published a most interesting study on 'Resource efficient green economy and EU policies'. As a study it took us from concepts to actions, by defining the scope of the green economy while arguing as we did that the financial crisis should serve as a catalyst rather than as a deterrent. The EU policy landscape is well suited to address this way forward. We have the EU 2020 Strategy, the Roadmaps to a Resource Efficient Europe and to a Low Carbon Economy as well as the 7th Environment Action Programme. One of the most important questions that the study posed was the same one that we tried to address in Milan. Are we on track as far as environment and climate policies are concerned? What should be the specific policy targets to really and true morph our economy into a green economy? What were the trends before the financial crisis? What has been the effect of the crisis on the trends and even more importantly what have been the main conclusions of this process? The changing structure of the EU economy from manufacturing to services, without underplaying the pivotal importance manufacturing of high value added should retain, should facilitate such a process. Particularly since the contribution of services to a green economy is immeasurable. All this should be gauged within the context of the structural change and the international footprint of the EU itself. Even though many feel that services are best suited to facilitate the shift to a green economy it would be a gross mistake to ignore the fact that re-manufacturing strategies can actually support the shift to a green economy. While neo liberal thinkers continue to argue in the most inward looking of ways that the green economy is something that hinders real growth, there was one big chorus line in Milan – right across the whole spectrum of keynote speakers – that the green economy will actually promote and enhance both innovation and even competitiveness. With this in mind the role of innovation in such a process needs to be strengthened and widened. The same way that we must all harness its untapped potential. In a number of EU countries they are already working hard at linking company innovation performance to the emission efficiency of the same countries. There is one certainty. Primarily that barriers to eco innovation need to be by passed and sidelined. European trade in environmental goods is of the essence, since it embodies green knowledge. This brings with it an even wider role for the transfer of environmental technological knowledge together with much opportunity for the export of environmental regulations and standards. No initiative can ever succeed without finance. The old idea of state subsidies should be abandoned. On the contrary one needs to study what are the financial needs for a transition to a green economy. This should go beyond mere public initiatives. It should do so primarily by focusing on the role of private investors as well as the possibility of mixed public private initiatives. There was a time when the green economy was perceived and or dismissed as a gimmick or a new greenwash sound bite but in this day and age many are coming round to the realisation that the green economy is and should be today, seen as a strategic way of delivering a fairer society living in a better environment. All these ideas and initiatives were further reinforced when the other day I was guest of QP Management that forms part of the Corinthia Group. Their vision on green buildings, sustainability and preserving the environment provided stirring stuff indeed coming as it does from a group of leading architects, engineers, planners, designers who have long been into mega construction projects – particularly in the leisure and hospitality sector – way beyond our shores. Such companies and initiatives do themselves, us and the country proud by proving to be flagship companies that can not only face tough competition but also beat some of the best of the best when it comes to purely competitive bids. On the basis of their past performance, their inner strength as well as their vision about the demands of their potential end users in the coming years. Leo Brincat is Minister for Sustainable Development, the Environment, and Climate Change While neo liberal thinkers continue to argue in the most inward looking of ways that the green economy is something that hinders real growth, there was one big chorus line that the green economy will actually promote and enhance both innovation and even competitiveness The green economy and the Italian EU Presidency