The EU will push Member States to develop comprehensive strategies for the social economy

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Following up to the 2021 Social Economy Action Plan, the European Commission adopted a proposal for a Council Recommandation on Developing Social Economy Framework Conditions.

The proposed Council Recommendation calls on Member States to develop comprehensive strategies for the social economy to promote an enabling environment for the social economy across all relevant areas, by adapting policy and legal frameworks.

The proposal covers several topics, including access the funding. Specifically, art 13. recommends Member States improve access to public and private funding for the social economy by enabling social finance ecosystems and using the funding available, such as EU funds.

The proposal will now be discussed in the Council in view of a political agreement. Once the proposal is adopted, Member States will adopt or update their national strategies for the social economy within 18 months. The Commission will then monitor the implementation of the strategies through regular consultations with Member States via the Employment Committee and the Social Protection Committee.

FEBEA welcomes this proposal for a Council Recommendation: it is time to create supportive measures and a favourable environment for the sector.

As a form of finance entirely focused on the common good, ethical finance has supported the social economy since its inception. Sharing the same goal of reorienting the economy to build a more just, caring and resilient society, ethical finance will continue to be a strategic actor for social economy organisations.