EU's COVID recovery spending should be guided by green finance plan - experts

(Reuters, 26 Apr 2020) Calls are growing from politicians, companies and campaigners to make sure stimulus money does not prop up environmentally damaging industries.

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 on Monday.

With the bloc headed for a steep recession and its executive, the European Commission, drawing up a trillion-euro recovery plan, calls are growing from politicians, companies and campaigners to make sure the money does not prop up environmentally damaging industries.

The Commission had planned to introduce rules on which investments can be called "green" from 2021, forcing providers of financial products to disclose which investments meet the criteria - known as the EU "sustainable finance taxonomy".

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Reuters, 26 Apr 2020: EU's COVID recovery spending should be guided by green finance plan - experts