The European Investment Bank’s decision to loan Germany €264 million to build a new stretch of autobahn has provoked outcry from environmental activists and raised doubts about whether the Luxembourg-based lender can yet claim to be the ‘EU climate bank’.
The Commissioner-designate for financial services, Ireland's Mairead McGuinness, promised on Friday (2 October) a “full investigation” into the Wirecard fraud that has thoroughly shaken up Germany, to see why supervision failed.
More than 150 business leaders and investors have urged EU countries to set higher climate goals for 2030, backing a draft European Commission plan to aim for a 55% reduction in greenhouse gas emissions by the end of the decade.
The European Commission has a unique opportunity to issue green bonds to finance the EU's coronavirus recovery plan and ensure overall investment coherence with the Green Deal, write Pascal Canfin and Bas Eickhout.
The gas and nuclear industries have ramped up lobbying to secure last-ditch changes to European rules defining which investments are sustainable, fearing that exclusion from a new “green” list could deprive them of billions of dollars of funding.
The European Union's strategy to adapt to the risks of climate change needs to be much more proactive and ambitious in order to reduce the risk of natural disasters such as flooding, insurers said in response to a consultation on the issue.
In order to make the post-pandemic recovery as sustainable as possible, long-term green investments will be in hot demand. Participants at a virtual conference called “Investing post-COVID: is a green recovery assured?” called for more opportunities and a viable framework.
The European Commission is looking into whether nuclear energy can be classed as a sustainable green investment. But the EU executive's decision to task its research centre with the assessment has already prompted criticism. EURACTIV Germany reports.
France, Germany and Italy have collectively spent $44 billion on fossil fuels during the coronavirus crisis, compared to $29 billion for clean energy, according to fresh data released on Wednesday (15 July).
A European Commission proposal for the European Union’s long-term budget and recovery fund risks leaving a huge shortfall in the “green” investment needed to meet Europe’s climate goals, researchers said on Tuesday (14 July).
United Nations Secretary-General António Guterres has called on governments to make sure coronavirus bailouts, especially those in the transport sector, are compatible with the goals of the Paris Agreement on climate change.
The European Commission has mandated its in-house research body, the Joint Research Centre (JRC), to assess whether nuclear power should be considered as a “green” technology under the EU’s sustainable finance taxonomy.
Whether in the European recovery plan or the just transition fund, Pascal Canfin says he is in favour of applying the EU sustainable finance taxonomy, which allows drawing a line between gas projects that merit public funding and those that don’t.
A group of investors, finance industry groups and other stakeholders are calling on the European Union to beef up "non-financial" reporting requirements for companies, such as their impact on the environment.
Reporting on greenhouse gas emissions should become mandatory "as soon as possible" for companies with more than 250 employees, argues Michèle Lacroix, an EU expert who helped design the EU's landmark green finance taxonomy.
The EU economic recovery plan presented by European Commission President Ursula von der Leyen on 27 May will also be based on the so-called taxonomy which gives priority to sectors in the field of low-carbon transition. EURACTIV Germany reports.
The European Union's proposed €750 billion fund to help the bloc recover from the coronavirus crisis will have green strings attached, with 25% of all funding set aside for climate action, the European Commission has said.
A growing number of businesses have recognised the economic benefits of the transition to a carbon neutral economy. It is now critically important that Europe commits to strengthening the Green Deal with a 55% greenhouse gas reduction target for 2030, write Eliot Whittington and María Mendiluce.
With a public consultation in progress for the Non-Financial Reporting (NFR) Directive, the EU Commission has an opportunity to lead the world in refocussing corporate efforts in a post-COVID-19 world, writes Carol Adams.
Carbon dioxide emission limits in the EU taxonomy suggested by the technical expert group are too high and will make it virtually impossible to reach EU climate goals for 2030 and 2050, argues a group of Swedish lawmakers.
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