European Economic and Social Committee EUROPE 2020 STEERING COMMITTEE CONFERENCE Transition to Post-2020 Europe Budapest, 27-28th November 2017

SEEKING A NEW SCENARIO Transition towards a new landscape: New participatory governance affecting all sectors (banking, health, food, automotive, creative industries, etc.) and stakeholders, disrupted and reinvented by technology, regulation, and changing customer needs. Globalization/digitalisation means several Risks, that are increasing all types of inequality gaps (social, digital, financial, etc.): More complex products and services, not easy to understand and risky. Radical transformation of work environment and loss of jobs. Robots replacing personalized advice. Virtual currencies and anonymous pre-paid instruments financing illegal transactions. Legal uncertainty regarding which regulation applies to new players (GAFA and others). Cybersecurity. 2

SEEKING A NEW SCENARIO But also means more inclusive OPPORTUNITIES: Easier access to products and services. More and better choices. Possibilities for price comparison via websites. More personalised and tailored offers. Reduction of transaction costs (saving time and money). Enhancing safety by means of new biometric authentication systems. NBFCs offering bank-like services (including credit unions, insurance companies, money market funds, asset managers, hedge funds, private equity firms, mobile payment systems, microlenders and peer-to-peer lenders, equity crowdfunding, etc.). 3

INCLUSIVE INNOVATION At this point, how to achieve The Treaty on European Union, article 3 premises? (heavenly music: well-being of its peoples, sustainable development, balanced economic growth, highly competitive social market economy, full employment, social progress, quality of the environment, equality between women and men, economic, social and territorial cohesion...) Fostering new sustainable economics models (Circular Economy, Collaborative Economy, Functional Economy, Economy for the Common Good, etc.), which are changing the relationship between producers, vendors, and consumers, who sometimes become “PROSUMERS”, shaking up certain traditional concepts such as salaried employment, by offering more flexible forms of work and job-sharing. Smart combination of traditional business models and new (TRULY) sustainable economic models (more inclusive and participatory), could rebalance the current trends, allowing the widest range of people empowering them to participate in economic projects of different sizes. (See SC/048 EESC opinion on New sustainable economic models ) 4

INCLUSIVE INNOVATION The public authorities of the EU should support (See SC/048 EESC opinion): Responsible Research and Innovation (RRI), a process that takes into account effects and potential impacts on the environment and society. Education, training and information provision to improve understanding among all stakeholders of the new sustainable economic models and of the role of sustainable finance. Innovation fund open to public-private partnerships to set up pilot projects that can create shared value. More concretely: (See CCMI/147 EESC opinion on Digitalisation in the European financial sector) Crowdfunding and other collaborative economy solutions by exploring the potential of establishing a "quality label" to build users' trust to better develop virtual communities and facilitate interaction among cooperative customers. Introduction of open-source software solutions. Equity crowdfunding, PtP lending regulations and hybrid lending. To create a platform (hub) to provide responsible consumers with objective information on sustainability in terms of investments and loans. 5

AN INNOVATIVE PILOT PROJECT: CO-HOUSING ECOSYSTEM, COMBINING ALL SOCIAL ECONOMY AND NEW ECONOMY FORMS FINANCE Finance on values Local cryptocurrencie FREE WIFI AND APP EDUCATION HOsTELRY & CATERING SERVICE Hola COWORKING Cooperative work Optimizing resources Hola Hola Access Special waste collection center FOOD Consumers cooperatives PEOPLE RECYCLING Textile and furniture Repair and restoration 2nd hand sale Access Access LEISURE & CULTURE Music, cinema, theatre, art Ecological garden HEALTH AND CARE Day Center Medical care Collaborative Consumption space Access Services area/economic activity MOVILITY Shared electric car Pedestrian area Ecosystem external zone *Collaborative Economy: Times bank, barter, child care, eldery care, pets… Circular/Collaborative* Economy Models

if you don´t riDE WITH THE wave, it will overtake you THANK YOU FOR YOUR ATTENTION carlos@triaswebb.e.telefonica.net