The evidence is crystal clear that fossil fuel subsidies are environmentally harmful and undermine efforts to tackle climate change. In the aftermath of COVID-19, governments have an opportunity to use subsidy reform and fuel taxation as tools for a green recovery. (…) Today’s low global oil prices provide a chance for countries to reform their fossil fuel subsidies without...Read more »
Green Recovery Know-How From the Nordics
In response to the COVID-19 crisis, several Nordic countries are continuing their trend of investing in a green economy. Finland’s recovery plan includes approximately EUR 500 million for green investments, including public transportation, recapitalizing its climate fund, and phasing out oil heating. Denmark has adopted 13 climate partnerships with the business sector to build a green economy....Read more »
Israel’s ‘smart commuting’ shows what public transport could be like after COVID-19
Israel is one of the world’s leading innovators in the mobility sector, having generated some $35 billion worth of innovations such as technologies for self-driving cars. However, anyone who’s visited the country would admit its own transportation system is lagging. It relies heavily on single-occupancy rides and inefficient, fragmented public transport, resulting in traffic jams,...Read more »
Cycling and COVID-19: Why investments to boost cycling are important for a sustainable recovery
Around the world, the number of people walking and cycling has risen to unprecedented levels during the COVID-19 pandemic. For example, the number of kilometres travelled by bike in Switzerland doubled during the country’s partial lockdown, while counting stations in Philadelphia saw the number of cyclists increase by an average of 150%. Government leaders are...Read more »
Spending to Build Back Better
To ensure this spending does in fact “build back better,” governments must tie their spending to sustainability targets or conditions.
Is the EU Council agreement aligned with the Green Deal ambitions?
On 21 July, EU leaders agreed on a €1.8 trillion package that should boost the recovery after the COVID-19 crisis, but also contribute to the advancement of key EU societal objectives, starting with the climate transition. In this blog post we assess the green ambitions of the package and evaluate its consistency with the European...Read more »
Sustainability-linked Bonds: A new way to finance COVID-19 stimulus
Sustainability-linked bonds can play an important role in allocating capital toward COVID-19-related relief or recovery measures. With infection rates still stubbornly high in many countries, it has become clear that mitigating the economic impact of COVID-19 will require ambitious stimulus measures and spending. This is where COVID-19 bonds have a vital role to play, given their ability...Read more »
The EU’s Financing of a Resilient Recovery
In the early morning of July 21, 2020, the European Council (EC) agreed on the new long-term European Union (EU) budget and recovery fund. After a 4-day marathon meeting, the leaders of EU member states found a political compromise on the Multiannual Financial Framework (MFF) budget of EUR 1,074 billion and a specific Next Generation...Read more »
The value of inclusive infrastructure in a post-coronavirus world
The global health crisis has left us no choice but to demand a transformative future where more adaptable, flexible, multi-purpose and inclusive infrastructure can help society stay resilient in the face of looming threats. As we emerge from this coronavirus pandemic, what future should we anticipate? Listening to some politicians and pundits, we are led...Read more »
Corporate Purpose: Shareholders or society?
Joseph Mariathasan Corporate Purpose: Shareholders or society? This timely and thoughtful commentary in Investment and Pensions Europe makes a very strong case for the valuation of externalities. Mariathasan argues that unless externalities are valued in dollar terms, investors will continue to finance assets and services that bring no social or environmental value. Public goods are...Read more »