“Keeping In Mind The Nations Who Are Not Present Here,” The ECOFIN Is Bringing Up Green Sustainability Solution

As the ECOFIN Council stated their housing pricing solution once more, the nations start to echo each other with the term “green sustainability housing price.” (11/1)

The Economic and Financial Affairs Council (ECOFIN) gathered today to address the growing crisis of rising housing prices. The nations reveal deep divisions among member states on their path forward. While many delegates echoed the need for inclusive, sustainable, and technology-driven solutions, the consensus remained slippery as blocs formed around contrasting approaches to policy intervention and accountability.

During the discussions, South Korea opened the debate by stressing inclusivity, urging that the policy “must consider countries that are not present here.” Australia followed with an emphasizement of crafting both short-term and long-term solutions. “While keeping in mind the needs of developing nations,” Australia reiterates.

While the discussion is progressing, the delegate of Canada criticized the council for overlooking the needs. The delegate affirms that there are many proposals so far that reflect national interests rather than global responsibility.

On the other hand, Norway emphasized a “green development”, advocating regional development bank partnerships to build a sustainable housing system.

Despite repeated mentions of “green and sustainable housing,” some delegates admitted that the council had yet to clarify how such deals will be concretely implemented. Issues such as zoning laws, urban density, and financing frameworks remain unresolved.

It has been a long day for the ECOFIN council. While they continue the consideration of housing pricing, the challenge lies in bringing the gap between ambition and action. Discussing what and what nots is one thing, but the housing solutions serve not only for the markets, but people, is another thing the nations should prepare for.