Apr 27, 2020 - Economy

Experts say EU's coronavirus recovery should include green energy investments

Illustration of someone plugging smoke stacks with coronavirus.

Illustration: Aïda Amer/Axios

European Union advisers are recommending that economic recovery measures for the coronavirus pandemic be in line with climate policy with low-carbon investments, Reuters reports.

Why it matters: It's the latest wrinkle in growing calls to orient huge financial recovery packages in Europe and elsewhere toward low-carbon industries.

  • On Friday, the International Energy Agency and Denmark hosted a virtual meeting on the topic that included officials from European nations, India, Canada, Indonesia and elsewhere.
  • And this week, an annual meeting of environment ministers from over 30 countries, called the Petersberg Climate Dialogue, will focus on "how to organise a 'green' economic recovery after the acute phase of the pandemic is over," the BBC reports.

But, but, but: In the U.S., GOP lawmakers and President Trump have pushed back against some Democrats' efforts to include provisions in the coronavirus response packages that would help shore up jeopardized renewables projects.

  • However, if brewing administration plans to aid distressed oil companies contain provisions that require congressional approval, there could be openings for a compromise on the topics.

Go deeper: Coronavirus could spark 500K green energy job losses

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