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Europe’s Recovery Plan Has Green Strings Attached

  • Green Deal to become motor for growth in EU recovery effort
  • Access to EU funds will require alignment with green goals
Bloomberg business news
Europe's $824 Billion Recovery Plan Comes With Green Strings Attached
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Meeting the climate-neutrality goal is a key pillar of a 750 billion-euro ($824 billion) economic recovery plan unveiled by the European Commission, one of the Brussels-based executive’s top officials said.

The unprecedented stimulus program -- along with a revised budget for the next seven years -- aims to accelerate the transition to clean transport, increase energy savings and boost the production of renewable energy. To access funds in the rescue plan, European Union member states will need to show that their investment is in line with the ambitious objective of the Green Deal to eliminate net greenhouse gas emissions.