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European Investment Bank Finances Large-Scale Solar PV Project in Spain

On June 26, 2020, the European Investment Bank (EIB), the long-term lending institution of the European Union owned by its member states, announced to invest EUR 43.5 million to finance four 50-megawatt peak (MWp) solar photovoltaic (PV) plants in Andalusia, Spain. These plants are also called the Cabrera Solar Project. Emma Navarro, EIB Vice President responsible...Read more »

Green Recovery Stimulus for UK’s Housing Sector

The UK Treasury has now published the foundations of Chancellor Rishi Sunak’s Summer Economic Update for a green recovery. Of the GBP 3 billion “green” package that was announced on July 6, 2020, GBP 1 billion will be made to retrofit public sector buildings such as schools and social housing, making them less carbon intensive....Read more »

Bank of Ireland’s Measures for a Green Recovery

While the European Commission’s latest forecast expects Ireland’s economy to shrink by 8.5% this year, the Irish economy is reopening faster than planned. On July 2, 2020 the Bank of Ireland outlined its plan to support the country’s economic recovery after COVID-19, which focuses on homebuilding, green investment, and local businesses. The Bank aims to...Read more »

COVID-19 Recovery Impacts: Nationalisation of Britain’s Railway System Progresses

After rail companies have already received bailouts worth £ 3.5 billion over the past few months of the COVID-19 recovery phase, signals increase that the railway system in Britain will be nationalised as reported on 09th July, 2020. The Office for National Statistics published a review that suggests counting the debt of railway operators on...Read more »

How efficient cooling can support a green recovery

In June, E3G and the Kigali Cooling Efficiency Program published a report on how climate-friendly cooling can support a clean, resilient Covid-19 recovery. They identified six key opportunities for including sustainable cooling solutions in stimulus packages that can create jobs, reduce emissions, secure the supply chains of medical care products and food, and boost the...Read more »

OLADE and IRENA collaboration: Promotion of Renewables for a Sustainable Recovery in Latin America and the Caribbean

On 08. July 2020 the Latin American Energy Organisation (OLADE) and the International Renewable Energy Agency (IRENA) announced to foster their partnership to promote investments and financing of renewable energy transitions in OLADE member countries and hence support a sustainable recovery from the COVID-19 crisis. The partners emphasize that the envisioned renewable energy transitions in...Read more »

Leading Environmental Organizations endorse Green Recovery Guidelines for Canada

The report Green Strings: Principles and conditions for a green recovery from COVID-19 in Canada was released on July 07, 2020 and provides policy-makers concrete steps for meeting Canada’s 2050 climate commitments while spurring economic resiliency and creating good jobs. The authors of the report advocate for attaching the following seven “green strings” to COVID-19 recovery...Read more »

Green policy will guide ECB bond purchases

The FT reports on 8 July 2020 that Christine Lagarde, President of the ECB, signaled in a recent interview that the ECB’s EUR 2.8 trillion asset purchase scheme could be deployed following green policy objectives: “I want to explore every avenue available in order to combat climate change”. This would make the ECB the first...Read more »

Ghana Eyes Improved Climate Resilience

On July 2020, the UN Environment Programme (UNEP) reported that Ghana is undertaking a National Adaptation Planning (NAP) process, in which it seeks to improve its resilience to climate change and its impacts over the next 60 years. Its NAP process has been supported by the NAP Global Network since 2018. By developing anticipated climate...Read more »

Financing the Sustainable Recovery: Social Bond Issuances Surge

The Green Bond Bulletin of NN Investment Partners provides excellent insight into the Green and Social Bond markets. In their article from June 30, 2020, NN Investment Partners report on recent developments in the Social Bond and sovereign Green Bond markets in light of the COVID-19 pandemic. They highlight the surge of Social Bond issuances...Read more »