EU’s Covid recovery spending should be guided by green finance plan, say experts | Malay Mail

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LONDON, April 27 — Planned European Union rules requiring investments to be in line with climate policy should be used to guide economic recovery measures after the coronavirus pandemic, despite not yet being law, the bloc’s expert advisers said today. With the bloc headed for a steep recession...

Monday, 27 Apr 2020 07:25 AM MYT

With the bloc headed for a steep recession and its executive, the European Commission, drawing up €1 trillion recovery plan, calls are growing from politicians, companies and campaigners to make sure the money does not prop up environmentally damaging industries. “The opportunity for a resilient, sustainable and fair economic recovery is right before us. We encourage all governments, public institutions and the private sector to use the right tools for the job,” it said in a statement.

“If some of the financing goes to propping up polluting practices, it just increases the risk exposure for these investors when more disruptive policies have to inevitably be implemented later.”

 

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