A way to ecologically sustainable development: Ruuth

State Secretary Saila Ruuth on Tuesday emphasised a balanced policy in the related sectors to lay a foundation for a sustainable and green Europe.

“From an economy of wellbeing perspective, economic policy, wellbeing policy and environmental policy must be balanced. Together they strengthen each other and lay the foundation for a socially just, sustainable and green Europe,” Ruuth told a seminar on the economy of wellbeing held in Brussels, said a press release issued by the social affairs and health ministry.

The seminar was organised by the ministry and Health and Demos Helsinki.

It was a follow-up to an initiative launched by Finland during its EU Council presidency. The initiative emphasises mutual link between people's wellbeing and the economy.

“Our message is clear. Taking wellbeing into account in all policies is vital from the perspective of the sustainability of the EU. When we invest in people’s wellbeing, we create the conditions for a socially and ecologically sustainable economy, which in turn provides opportunities for people’s and the planet’s wellbeing. It is equally important from the point of view of efficiency and productivity, and social and macro-economic stability,” Ruuth pointed out.

In November 2017, the EU adopted the European Pillar of Social Rights, the foundation for the essential objectives of the European Union in the field of social affairs.

Finland is committed to these objectives. A clear signal of this was provided by Finland during its EU Council presidency last autumn, when it launched a new kind of initiative on the economy of wellbeing for the EU member states.

The debate that Finland started with other Member States improved, refined and strengthened the concept of European economy of wellbeing. As a result, the Council of Ministers adopted its conclusions on the economy of wellbeing in October under the leadership of Finland.

“The message from the member states to the Commission has been heard: the Commission is expected to issue a communication on how the economy of wellbeing will be taken forward in practice in the EU. It is also very pleasing to notice that many international economic organisations, such as the Organisation for Economic Co-operation and Development (OECD) and the World Bank, are communicating about the economy of wellbeing along the same lines as we are in the EU,” Ruuth said.