EU green policies require support mechanisms for vulnerable economies, says think-tank<\/p>\n
The EU needs to improve regulatory co-operation with its trading partners if it wants to safeguard the legitimacy of its sustainability agenda, according to research by the Institute for European Environmental Policy.<\/p>\n
In a new report<\/a>, the think-tank argues that policies agreed under the EU\u2019s Green Deal would benefit from prior consultation with the bloc\u2019s trading partners.<\/p>\n This would allow EU leaders to consider more effectively the economic realities of countries that have lower institutional capacities, the report says.<\/p>\n Some of the landmark legislation passed under the Green Deal \u2014 such as the Carbon Border Adjustment Mechanism<\/a>, the EU Deforestation Regulation<\/a>, and the Corporate Sustainability Due Diligence Directive<\/a> \u2014 is being reviewed under the omnibus proposals<\/a> in an attempt to cut red tape and increase the bloc\u2019s competitiveness.<\/p>\n These regulations embed extraterritorial requirements, with some middle and high-income countries, including Brazil, India, China and the US, complaining that they restrict market access and amount to unfair competition.<\/p>\n \u201cThe EU Green Deal has the potential to drive a transformative global agenda, but only if it is implemented in ways that are fair, inclusive and development-friendly,\u201d the report\u2019s authors state.<\/p>\n They insist the review and final implementation of EU Green Deal policies \u201cmust better reflect the asymmetries of the global system\u201d.<\/p>\n The authors recommend the EU aligns its green trade policies better with equity concerns from countries that are not equally responsible for global environmental degradation and do not have the same resources to address it.<\/p>\n This would require more inclusive partnerships, technical assistance, strategic investments and \u201cadaptive regulation\u201d so the bloc can improve its image from \u201cenvironmental rulemaker\u201d to a climate justice leader in uncertain times, the report says.<\/p>\n