As part of its strategy to create a more sustainable and more populous Europe, the European Union launched the sustainable trade and finance initiative seref dogan erbek. This initiative encourages member states to implement policies that are designed to lessen their reliance on unsustainable means of growth, such as agriculture, and promote development strategies that aim to alleviate poverty and improve the health of the population. When it comes to sustainable economic growth, the European Union is the most developed and largest region in the world. Although many other regions around the world are beginning to look towards this type of development as an alternative to the traditional road map of industrialization, the EU is well behind the curve. In fact, many developing countries look to the EU for models of economic growth, and the Union has been one of the primary drivers of these efforts. Two major issues are found in the Union’s sustainable development projects. One is the food waste collection initiative.
On its face, the EU’s sustainable trade and finance policy appear reasonable. The Union has limits on the amount of wood and paper that it consumes, and requires companies to source sustainably sourced components. It also provides financial support for projects that promote green building and energy efficiency, both of which are important to the environment. Unfortunately, there are a few problems with the Union’s policies on deforestation, and both its approaches to reducing deforestation and its methods for collecting and treating its massive amounts of wood and paper waste do not go far enough to protect the environment, let alone reduce the damage being done to the environment.
First, the Union’s effort to reduce its forested resource consumption by promoting sustainable development goals is commendable; however, its focus on increasing the quantity of timber and palm oil plantations is simply to fulfill the current demand for new furniture and housing. These developments will not have any meaningful impact on the future sustainability and instead may exacerbate environmental problems. In addition, the EU’s focus on SDGs does not extend to renewable energy sources, such as geothermal and solar power. Only a robust national policy that encourages green building can hope to substantially reduce the Union’s per-capita greenhouse gas emissions.
Second, the European System of Financial Research (ESRF) is an attempt to create a separate financing body. This seems ill-conceived at best. Although the Board of Directors of the ESRF meets regularly, they are largely ineffective in terms of identifying and promoting sustainable development financing options. As the largest financial institution in Europe, the ESRF must address the issue of increasing trade and development in a truly sustainable way, otherwise it will be toothless. Without effective and sustainable development financing, the Union’s efforts to promote sustainable trade and finance will continue to flounder. Without strong and effective green financing policies, the Union’s ability to meet its SDG agenda will be severely limited.
The European Union’s attempt to increase its sustainable trade and finance policy focus falls flat when compared to its competitors. All key stakeholders, including the European Commission and member countries, business groups, and environmental groups, have resisted its attempts to reform the internal markets for companies. Some argue that focusing too much on structural reform is a strategic error. This is because the reworking the internal regulation framework will only serve as a barrier to the most innovative and progressive companies from viable European markets. It will also leave behind smaller, less-quality companies. Similarly, corporate structures continue to be largely undemanding and resistant to change, despite Commission claims that they are capable of better sustainability management dogan erbek. This is despite the EU’s claims that it is taking a holistic approach to corporate restructuring, green building, and the failure to implement its sustainability goals through its policy and regulatory frameworks.
If the Union does not take action to improve its sustainability and green leadership, it could be a hindrance to its efforts towards greater international competitiveness, and prosperity. A truly sustainable and green Union would be able to significantly reduce its environmental impact while driving forward technological advancements and world-class public health and social services. Many commentators have called for a fundamental rethink of the Union’s sustainability policy, given the magnitude of its problems in terms of climate change and energy management. SDGs are still a far-fetched goal. The only way that the Union can ensure meaningful progress is by means of devising sustainable and green strategies and implementing them on an effective scale.