Brussels, 23/02/2012 (Agence Europe) - On Tuesday 21 February, finance ministers were all for resource efficiency if measures required do not cost too much, but totally against financial subsidies detrimental to the environment and the economy. They took a stance on the economic aspects of the roadmap for a Europe that uses its resources efficiently by 2020 (see EUROPE 10520 for the position taken by the Environment Council). In their view, the roadmap provides a good basis for discussion.
In its conclusions, the Council underlines that “actions taken must be consistent with the need for economic stability and fiscal consolidation and be economically efficient and cost-effective”. They also urge the member states and the European Commission to give pride of place to action that will have the most positive impact on competitiveness, sustainable economic growth and job creation. The Council considers that, as part of a long term strategy, indicative intermediary milestones for 2020 may be considered after broad consultation of relevant stakeholders. Environmental taxes, revenues from market-based instruments and removal of environmentally harmful subsidies may contribute to a wider fiscal consolidation process, the Council states. In that context, the Council calls for the rationalisation and the phasing out of environmentally or economically harmful subsidies including fossil fuels. It also stresses that market instruments such as the emissions trading scheme (ETS) are important for implementing green growth strategies, in that they complete regulatory measures. (AN/transl.jl)