Apr 27, 2020 - Economy & Business
Experts say EU's coronavirus recovery should include green energy investments
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