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Information is coming out about how European nations hope to use economic stimulus packages to bolster deployment of climate-friendly energy sources.
Why it matters: The UN, International Energy Agency, International Monetary Fund and others want governments to use big pandemic response plans to help accelerate the global energy transition.
Driving the news: "The European Union is poised to announce the world’s greenest recovery package next week, as it seeks to curb pollution and save its economy from the coronavirus pandemic," Bloomberg reports.
- Reuters also has some details of the wide-ranging draft plan, which will require unanimous approval of EU governments.
- Under one provision of the draft they obtained, "The [European] Commission will set aside 91 billion euros each year in grants and loan guarantees for renovations like rooftop solar panels, insulation and renewable heating systems."
Meanwhile, via the Financial Times, "Denmark plans to build two giant 'energy islands' as part of the world’s most ambitious offshore wind project, as the Scandinavian country increases its green programme in the face of the coronavirus crisis."