Friday 14 May 2021
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Investors against LNV summit: more Agricultural subsidy for Green Deal

A group of European investment companies believes that the European Union should introduce the Green Deal Environmental and Climate Plan more generously and more quickly. Only then can the EU reduce greenhouse gas emissions for the next thirty years.

Among the British and European investors, which together account for almost 2 trillion dollars, is also the Dutch Robeco.

The investors' call coincides with the Agriculture Council of Ministers to be held in Brussels today and tomorrow. The 27 LNV ministers want to adopt the new common agricultural policy (CAP) for the period 2023 - 2027, on which they are still conducting trilogue negotiations with the EU commissioners Wojciechowski, Timmermans and Kyriakides, and with the committees of the European Parliament.

The investment companies also believe that the EU should allocate more CAP agricultural subsidies to farmers who want to transform their traditional agricultural business. They also advocate reducing direct financial support for high-emission raw materials, such as red meat and dairy products. Financial support should be linked much more to the costs of Environmental Protection.

The European agricultural umbrella organization Cogeca, on the other hand, has called on the LNV ministers not to agree yet with the many advocated production adjustments, but first to map out all the practical and financial consequences thereof ('effect assessment').

In an opinion article in several European trade journals, Cogeca chairman Ramon Armengol links the CAP subsidies, the Green Deal environmental policy and the EU trade agreements (including Mercosur). He points out that the EU sets other (read: less) environmental criteria for imported products, which disadvantage European farmers. Although Cogeca agreed with Mercosur last year, it threatens to scrutinize trade agreements much more critically.

The Dutch MEP Lara Wolters (PvdA) calls on the European Commission and the EU countries to provide more insight into the payments of agricultural subsidies. Wolters is a member of the budget control committee that annually audits the EU accounting. For several years now, agricultural subsidies have been tampered with in some Central European countries and large sums of money are being paid to political friends of prime ministers and agricultural ministers.

According to a European diplomatic source, “March is a crucial month” for the negotiations on the new agricultural policy. Portuguese Agriculture Minister Maria do Céu Antunes says progress has been made in the earlier trilogues. She wants to organize a 'super trialogue' at the end of this week to get the ministers, commissioners and parliamentary committees to take a decision.

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