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London Launches GBP 1.5 bn Infrastructure Investment Package with Green Stimulus Elements

London Mayor Sadiq Khan and the London Recovery Board announced a GBP 1.5 billion Infrastructure Investment Package on July 29, 2020, that aims to recover the local economy, creating jobs and reducing London’s carbon and water footprints. The specific projects and corresponding budget allocations are yet to be defined. Projects will be implemented together with...Read more »

UN PRI Releases Framework to Guide Responsible Investors in Engaging with Policy-Makers on a Sustainable Recovery

On July 6, 2020, the United Nations Principles for Responsible Investment (UN PRI) released a framework to guide investors in engaging with policy-makers on a sustainable recovery. UN PRI writes that, as policy-makers are rolling out recovery strategies, investors should engage with them to provide technical expertise and to ensure that capital is steered toward...Read more »

EIB Finances Sustainable Recovery of the Province of Trento, Italy

The Autonomous Province of Trento has signed an agreement for EUR 300 million in financing from the European Investment Bank to distribute loans to municipalities and public entities in need of funding for a sustainable recovery from the pandemic. The agreement was signed on July 21, 2020, and an initial tranche of EUR 160 million...Read more »

U.K. Government Announces GBP 350 Million Budget for Green Recovery Spending

On July 22, 2020, the British government announced a GBP 350 million budget to fund the decarbonization of heavy industry and the construction, transportation, and aviation sectors. This green recovery spending is earmarked to support the U.K.’s target to reach the net-zero target by 2050 and advance green innovation. The press release provides details about...Read more »

The Need for a Sustainable Blue Economic Recovery

In this article, Mukhisa Kituyi, Secretary-General of the United Nations Conference on Trade and Development (UNCTAD), and Dona Bertarelli, UNCTAD’s new Special Adviser for the Blue Economy, call for a sustainable blue economic recovery and describe what that could look like. The health of the oceans is in steep decline. A natural resource so crucial...Read more »

ADB and GCF Announce Collaboration for Green Recovery in Asia

On July 22, the Asian Development Bank (ADB) announced a partnership with the Green Climate Fund (GCF) to assist members hard hit by COVID-19. ADB President Masatsugu Asakawa and GCF Executive Director Yannick Glemarec met to identify opportunities to help ADB members confronting the pandemic crisis achieve low-carbon and climate-resilient recoveries. They agreed to build...Read more »

New EU Budget and Recovery Fund: Green stimulus and climate budget cuts

On July 21, the heads of state or government of the 27 European Union (EU) member states, together with the European Council President and the President of the European Commission, reached an agreement on a EUR 1.074 billion long-term budget and a EUR 750 billion COVID-19 recovery fund after a marathon summit. This was the...Read more »

Financing a Sustainable Recovery: U.K.’s first local government green bond

On July 17, 2020, West Berkshire Council issued the U.K.’s first local government green bond using the crowd investment platform Abundance. This innovative financing solution is called Community Municipal Investment and targets local citizens to become investors for green projects in their own municipalities. Within a week, GBP 300,000 of the GBP 1 million target...Read more »

‘Principles for Recovery’ Urge Investing in Sustainable and Resilient Infrastructure

The UN Environment Programme (UNEP), alongside several partners in the Sustainable Infrastructure Partnership (SIP), developed a set of ten principles for post-COVID-19 recovery focusing on investing in sustainable and resilient infrastructure. The ‘Principles for Recovery’ provide a framework for decision making on infrastructure spending for post-COVID-19 recovery and stimulus packages. The Principles call for decisions...Read more »

C40 Mayors Advocate for a Green and Just Recovery in Cities

On July 15, the C40 Global Mayors COVID-19 Recovery Task Force published a new report, C40 Mayors Agenda for a Green and Just Recovery. C40 is a network of 96 cities across the globe committed to addressing climate change, and the Task Force was launched in April 2020 to rebuild post-pandemic cities and economies by...Read more »