The European Union has fully committed itself to implementing the UN Sustainable Development Goals (UNSDGs) in all its policies by 2030 and encourages every single one of the member states to do the same. However, laying down the foundations for a sustainable and inclusive economy in a situation of geo-political tensions is quite a daunting task and there is no certainty this can be achieved in the current economic climate. In addition, achieving sustainable economic growth (as defined by the European Commission) must be considered in the delicate balance between social progress on one hand and the pursuit of growth in the Gross Domestic Product (GDP).
It is argued here that the right to a decent living, fair working conditions, the protection of social values must be at the forefront of economic policy. Also relevant is a 'fair' transition to climate neutrality. The emphasis is on the wellbeing economy covering the more important aspects such the need for social and productive investment, education and research and innovation.
This timely publication appeals to those researching economics, sustainable development, geopolitics and sociology, as well as having implications for policy makers.
Philip von Brockdorff is a full professor and resident academic at the Department of Economics, Faculty of Economics, Management and Accountancy University of Malta. He graduated with a Master of Science in Economics at the University of Wales and with a DPhil in Economics from the University of York specialising in public sector economics. He has authored several publications and consultancy reports, and is currently Vice President of the Workers Group at the European Economic and Social Committee based in Brussels, as well as Governor on the Board of Governors at the Malta Financial Services Authority.
Stefano Palmieri is economist at the International and European Department at the Italian trade union: Confederazione Generale Italiana del Lavoro (CGIL) He is a member of the European Economic and Social Committee (EESC), since 2009, and is currently Vice-President of the Section for Economic and Monetary Union and Economic and Social Cohesion. He also served as President of the same Section from 2018 to 2023 and as President of the EESC's Europe 2020 Steering Committee from 2013 to 2016. From October 2025 he will be the EESC's President for External Relations.
Jonathan Spiteri is a Senior Lecturer within the Faculty of Economics, Management and Accountancy at the University of Malta. A PhD graduate in Economics from the University of Edinburgh, Dr. Spiteri's research interests include ESG, sustainability, public health, macroeconomics and behavioural science, and his research has been published in several leading peer-reviewed journals and books. Beyond academia, Dr. Spiteri's consultancy experience spans more than 14 years, focusing on macroeconomics, socioeconomic impact assessment and ESG issues for both public and private sector entities alike. He is also the Deputy Chairperson of Malta's Climate Action Authority.
