We have seen the significant impact on the environment during the
lockdown period, with air pollution plummeting and wildlife flourishing
as industrial and human activity has dropped.
Economically
however, the consequences have been brutal with mass unemployment and
major industries under pressure. As countries work through the COVID
crisis, plans for economic recovery have become as essential as those
for virus eradication. The benefits of a green economy, including
increased employment, have long been recognised and now the European
Union has taken this unique moment in time to develop a green recovery
plan that boosts the economy while driving towards emissions reduction
targets.
According to European Commission President Ursula von der Leyen “The
recovery plan turns the immense challenge we face into an opportunity,
not only by supporting the recovery but also by investing in our future:
the European Green Deal and digitalization will boost jobs and growth,
the resilience of our societies and the health of our environment.'
The
€750 billion recovery plan incorporates the fundamentals of the
European Green Deal, with a focus on renewable energy and building
renovation, resulting in job creation, consumer utilities cost reduction
and cuts in energy use.
Boosting sales of ‘clean’ vehicles over
the next two years and installing a further one million charging
stations for electric and hydrogen vehicles are a core part of the plan.
Significant support has been allocated to grants and loan guarantees
for upgrades including renewable heating systems, solar panels and
insulation.
Expanded funding for the Just Transition Fund
will assist businesses with re-skilling so that they can take full
advantage of these new green economic opportunities as they come into
play.
Sixty of the UK’s business leaders including the CEOs of
Iceland Foods & The National Trust have called on the government to
take this opportunity to lead a green recovery stating that ‘if nature is protected, we are protected’. The
EU Green Recovery plan will provide a potential roadmap for other
countries including the UK to see how this can be achieved and learn
from their experiences.
SOURCES
https://ec.europa.eu/commission/presscorner/detail/en/ip_20_940
https://www.bbc.com/news/business-52580291
https://www.reuters.com/article/us-health-coronavirus-eu-climate/eu-green-recovery-to-target-buildings-clean-power-hydrogen-draft-idUSKBN22W2TO