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An EU taxonomy to define green investments is expected to enter into force in 2021, but some experts want it to be used immediately to inform stimulus packages aimed at dealing with the social and economic fallout from the Covid-19 pandemic
GREEN RULES
Financial products sold as sustainable in Europe will, from 2021, have to show how they meet environmental objectives, beginning with how they contribute to climate action and the clean energy transition
BENEFITS
More and better data will encourage the flow of capital to companies providing environmental solutions, make it easier for investors to identify green products and reduce greenwashing claims
KEY QUOTE
The taxonomy will significantly accelerate the shift from brown to green as shareholders increasingly call for an end to high carbon infrastructure. For utilities it will no longer be enough to invest half of their capital expenditure in renewables and half in gas, they will need to invest all of it in renewables ...
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To create demand for sustainable finance, governments should integrate climate criteria into their procurement and in how they draft policies and regulations
Investments spent on dealing with the social and economic impacts of Covid-19 in Europe should focus on achieving the highest value outcomes in line with the objectives of the European Green Deal, insists Simon Skillings from think tank E3G
Investors taking ESG issues into account are increasingly examining future scenarios, particularly around climate change
Despite the constant flood of bad news related to Covid-19, there are signs we are also witnessing unprecedented global dialogue, innovation and collaboration, offering hope that climate change and clean energy can be at the forefront of post-pandemic plans, says Mark Watts, Executive Director of C40 Cities
The coronavirus is a deadly human tragedy, causing untold grief and pain. It is also rocking the world’s economies as people lose income and businesses struggle to stay afloat. Yet there are lessons to be learned for the climate crisis
While helping workers and companies survive the current crisis, the European institutions should confirm and accelerate the EU’s path to carbon neutrality by 2050, including fixing emissions reduction targets in line with science, says Monica Frassoni, President of the European Alliance to Save Energy (EU-ASE)
Many believe the ECB and other central banks should bring climate considerations into the rulebook governing what they support and how
China has pledged to peak carbon emissions by 2030 at the latest, but its economic plan for 2021-2025 is expected to approve the building of more coal-powered plants
Politically there is broad support in Denmark for financing the green transition through taxes and a carbon emissions tax proposal has been welcomed by parties across the political spectrum, but industry opposition could ultimately quash the idea
The world’s development banks are funnelling ever-greater volumes of finance into clean energy — but the challenge of shifting entire economies away from climate-wrecking activity and towards actions that align investment goals with those of the Paris Agreement requires a more holistic approach
COVID-19 may have reduced emissions in the short-term, but much more needs to happen to slash fossil fuel use to meet climate targets
The UK is often cited as a leader in the transition to a clean energy economy, even though some British public money still flows to oil and fossil gas projects overseas
Europe is considering taking the bold step of introducing a border carbon adjustment tariff on goods imported from regions where carbon pricing is lacking, placing trade right in the middle of its climate ambitions
