CALL FOR A EUROPEAN FINANCE-CLIMATE PACT

The Call

We couldn’t stay silent and didn’t say anything. We cannot be silent and do nothing. Today, minds are angry with the fate promised to mankind. We Europeans and world citizens bound by a common destiny, do not accept that humanity is heading, without reacting, to climate chaos.

On 31 October 2017, the United Nations solemnly warned us[1] of the “catastrophic” gap between State commitments and the reductions in greenhouse gas emissions needed to keep global warming below 2°C.

“State commitments today barely account for a third of the cuts needed,” said Erik Solheim, director of the United Nations Environment Programme. The government, private sector and civil society must block this disaster gap. “One year after the entry into force of the Paris Agreement, we are far from doing what is needed to secure hundreds of millions of people from a life of misery.” What is the technique for filling this gap? How to make up for lost time? What can Europe do?

What is the technique of closing the gap?

Since “on behalf of US activity” the United States concluded to withdraw from the Paris Agreement, it is important for Europe to indicate that it is possible to divide its greenhouse gas emissions by 4 while creating massive jobs. It is also important that Europe takes a heavy share.

Divide by 4 our emissions, so slow by 2050? The project is the largest but making major investments in energy savings and renewable energy could result in “900,000 job creation in France” according to the latest estimates from the activities for all of Europe … So a good technique to significantly minimize unemployment and vulnerability. Hence, a good technique to pacify Europe with its citizens.

No one can doubt the profitability of such a project, the doubling of fanatical weather events has resulted in thousands of deaths each year, millions of refugees, and increasingly heavy expenses. Global warming not only causes natural disasters (droughts, heat waves, floods,) but also famine and deadly displacement of people. What would happen in 20, 30 or 40 years if hundreds of millions of men and women had to leave their already uninhabitable homelands? In the medium term, as we all know, it is World Peace at stake, if we are not able to reduce, comprehensively and urgently, our greenhouse gas emissions.

More than 1,100 billion private and public investments are required. Admittedly, all of these investments will be profitable in the long run, but how to “speed up the pump”? Together with the Financial Transaction Tax and the CO2 Tax, two levers should be used as soon as possible:

1..Monetary creation must support the struggle against climate evolution.

Since April 2015, the ECB has generated nearly 2,500 billion euros and made it available to commercial banks. Meanwhile, loans from these banks to the private sector (business and households) increased by less than 300 billion. Much of this liquidity stimulates speculation: each month, financial markets break new records and the IMF continues to warn us of the risk of a new financial crisis…

There is no need to process the Statute of the European Central Bank (ECB). We “only”, which is responsible for providing financing for Member States that will be used entirely for the transition to renewable energy. A European Treaty will/will provide Withdrawal Rights for each country equal to 2% of its GDP: France will. Germany 60 billion…

Since the ECB recently concluded to extend its Quantitative Easing policy, it seems urgent for us to “direct” money making into real economics and finance, across Member States, energy saving and renewable energy development.

2..Reject European tax dumping by making a 5% Climate Contribution.

In the last forty years, the average corporate tax rate has been halved in Europe: it is now close to 20% while the US federal income tax rate has been stable for more than eighty years at 35%[3].

Even with rates capped at 5%, European corporate profit taxes would accrue annually more than 100 billion euros, an amount that would meet the estimate

European partners to co-fund the “Factor 4” project in Europe, make massive investments in research (energy storage, transport or next-generation computers, more energy efficient, …) and greatly increase aid to countries in Africa and during Mediterranean.

“WORLD ECONOMY LIKE TITANIC. THIS IS ACCEPTED BEFORE THE SHOCK, IMF WARNING [4]. THE NEXT CRISIS MAY BE MORE SERIOUS AND MORE COMMON THAN 2008.

IMATE EXPERT AFFIRMING.

It is imperative to provide new techniques to combat global warming. This is why, as Angela Merkel, Emmanuel Macron and most European leaders want to revive Europe by giving it a new treaty, we, all signatories to this Call, sincerely ask European Heads of State and Government to negotiate as soon as possible. perhaps, the Finance-Climate Agreement, which will provide the necessary financing over 30 years, looking at the stakes, to finance the energy transition in the European district and strengthen our partnerships with Southern countries.

We aspire that the ECB’s monetary policy will be used to combat climate change and unemployment, and we want a European tax on dividends (of 5%) to consolidate real expectations for investing in research and fighting global warming, in Europe, Africa and across the globe. Mediterranean.

“Our house caught fire and we were digging in another location,” Jacques Chirac said angrily in Johannesburg in 2002. Fifteen years later, more and more of you are waking up at night because of the seriousness of the crisis that frightens us.

In order to avoid the catastrophe announced by the United Nations, it is most urgent to effect a collective explosion and, thereby also give new meaning to the European project by clearly recognizing our priorities.

Convinced that we will not succeed in taking back our destiny if every country remains isolated, we urge all Heads of State and Government to realize as soon as possible the European policies that predate traditional divisions, put finances at the service of climate and social justice, and allow you to watch without blushing. on the legacy you leave for our children.

pacte-climat.net 2021