PAN MEP joins call for a “real“ European Green Deal

Lisbon, 2 June 2020 – MEP Francisco Guerreiro (PAN) signed a joint letter by climatologists, young climate activists, representatives of NGOs and unions, ministers and MEPs from 5 political families to demand a “real” European Green Deal from the European Commission (EC). 

In a letter to the President of the EC, Ursula von der Leyen, the signatories say that the European Green Deal has given them “a new hope for climate and ecossistems”, although “the financial resources are far too few to succeed in reaching the enviromental policies needs and ambitions of the European Union for this decade”.

Thus, with this letter, they want to present 3 solutions with enough financing for environmental and job policies compatible with the current economic and environmental situation. 

The first is to drastically reduce our consumption of fossil fuels and stop all fossil fuels subsidies and investments, with the introduction of a climate law that prohibits all Member States from continuing to subsidise fossil fuels. 

Refering to the Foreign Account Tax Compliance Act (FATCA), passed in the USA by Barack Obama, the signatories also urge the European Union to ensure that all banks (private and public) and insurance companies operating in Europe are transparent about all their activities and organise the progressive end of fossil investments.

The second is to invest the entirety of the billions of Euros created by the European Central Bank (ECB) in climate and jobs, “rather than risking to feed speculation”. The signatories also suggest the possibility to provide interest-free loans to each Member State (up to 2% of its GDP each year for 30 years, which would mean €300 billion for the whole EU).

Third, and last, and because zero interest loans will not suffice for all to invest in a deep zero carbon transformation, the signatories say that loans must be complemented with public subsidies. 

“The European Union was born with coal and steel. It can be reborn with a unifying project for climate and jobs”, the letter argues.

Read the full letter here.

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