The European Commission is gearing up to unveil a landmark green investment plan next week aimed at mobilising €1tr over the next decade in a bid to kickstart the EU’s transition to a net zero economy by 2050, according to reports. The move is the latest part of the Commission’s high profile plan, announced late last year, to implement a Green Deal strategy that would turn Europe into the world’s first ‘climate neutral’ continent. According to draft documents seen by Bloomberg, a major public finance push is expected to play a critical catalysing role in financing the transition. Dubbed the Sustainable Investment Europe Plan, the document reportedly proposes devoting at least 25 per cent of the EU budget to the net zero transition, while also using additional budgetary levers to mobilies billions of Euros of private investment.
Business Green 10th Jan 2020 read more »