Call on EU leaders for a green economic recovery from Covid-19

Published on

NILGOSC has joined with other investors to call on EU leaders to ensure a sustainable economic recovery from COVID-19 to deliver the EU Green Deal and goals of the Paris Agreement.

Leading investors, including NILGOSC, have written to EU leaders, highlighting the need to ensure the economic response to the Covid-19 pandemic delivers a green and sustainable recovery.

The letter comes from 109 investors, representing €11.9 trillion in assets under management or advice, and follows publication of the first element of the EU’s proposed post-COVID recovery strategy. This positions the ‘European Green Deal as the EU’s recovery strategy’ and is a cornerstone of the EU recovery plan. The intervention from investors is intended to also inform economic planning at a national level across EU member states.

Among other points covered in the letter, investors stress the need to ensure “an accelerated transition to a net zero emissions economy in line with the Green Deal and the Paris Agreement.” Conversely that, “recovery plans that overly exacerbate climate change would expose investors and national economies to escalating financial, health and social risks in the coming years.

The press release can be read at https://www.iigcc.org/news/over-100-global-investors-call-on-eu-leaders-to-deliver-a-sustainable-economic-recovery-from-covid-19-pandemic/ and a copy of the letter read at https://www.iigcc.org/download/iigcc-letter-to-eu-leaders-from-investors-on-a-sustainable-recovery-from-covid-19/?wpdmdl=3446&refresh=5ee0906310f1b1591775331.

 “Recovery plans that overly exacerbate climate change would expose investors and national economies to escalating financial, health and social risks in the coming years.”