Sven Giegold

European Parliament Strengthens Social and Solidarity Economy

The economic and monetary affairs committee (ECON) of the European Parliament has adopted new legislative proposals, which aim to create a new type of European investment fund providing capital to the social and solidarity economy.

This would give a crucial boost to this important sector of our economy.

MEPs voted to improve the draft legislation, which includes several Green proposals:

  • extending the investment focus beyond small businesses to include more capital intensive projects in the social economy, such as social housing
  • all funded investments should be based on compliance with a broadened set of social criteria, including labour rights and health protection
  • eligibility of small investors under the EU framework on undertakings for collective investment in transferable securities (UCITS) and to be included in the review clause
  • enabling investments in non-European social economy projects and, as such, will encourage investment for social economy activities in developing and emerging countries
  • transparency on the capital ratio of up to 30%, which can be invested in economic activities not related to the social economy.

Following today’s vote, the EP will now enter into negotiations with the Council to finalise the legislation and Green MEP Sven Giegold, who will be part of the negotiations, is hoping the Council and the Commission play constructive roles in these negotiations to enable the legislation to be adopted as soon as possible.Name des Dossiers und Nummer des Änderungsantrags:




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