Apr 27, 2020 - Economy & Business

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

Ben Geman, author of Generate

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

Go deeper

Biden formally secures Democratic presidential nomination

Joe Biden speaks at Delaware State University's student cente on June 5. Photo: Jim Watson/AFP via Getty Images

Former Vice President Joe Biden became the formal Democratic presidential nominee on Friday evening, per AP.

The big picture: Biden has been the presumptive frontrunner to take on President Trump since Sen. Bernie Sanders suspended his campaign in early April.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9 p.m. ET: 6,724.516 — Total deaths: 394,018 — Total recoveries — 2,996,832Map.
  2. U.S.: Total confirmed cases as of 9 p.m. ET: 1,894,753 — Total deaths: 109,042 — Total recoveries: 491,706 — Total tested: 19,231,444Map.
  3. Public health: WHCA president says White House violated social-distancing guidelines to make reporters "a prop" — Jailing practices contribute to spread.
  4. Sports: How coronavirus could reshuffle the sports calendar.
  5. Jobs: Better-than-expected jobs report boosts stock market.
  6. Media: The Athletic lays off 8% of staff, implements company-wide pay cut.

Scoop: German foreign minister to travel to Israel with warning on annexation

Heiko Maas. Photo: Michael Kappeler/picture alliance via Getty Images

German Foreign Minister Heiko Maas is expected to travel to Israel next week to warn that there will be consequences if Israeli leaders move forward with plans to annex parts of the West Bank, Israeli officials and European diplomats tell me.

Why it matters: Israeli and European officials agree that if Israel goes ahead with unilateral annexation, the EU will respond with sanctions.