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Scottish National Investment Bank to Support a Just Transition to Net-Zero Emissions

On August 28, 2020, the Scottish Government proposed the key missions for the new Scottish National Investment Bank. The Bank is supposed to support Scotland’s economic recovery by creating inclusive, long-term economic growth based on three missions: Fostering a just transition to net-zero emissions by 2045 (primary mission).Creation of opportunities and reduction of inequalities.Usage of...Read more »

Clean recovery: Australian Industry Group calls for AUD 3.3 Billion in Public Spending

The Australian Industry Group urges the government to significantly step up its investments in renewable energy and energy efficiency for a clean recovery. In its pre-budget submission, the Australian peak employer body suggests public spending of AUD 3.3 billion over 10 years on renewable energy and AUD 500 million over two years to enhance energy...Read more »

Seven Policies to Unleash the Potential of U.S. Offshore Wind for a Green Recovery

On August 31, 2020, Forbes published an article outlining several policy recommendations to support the U.S. offshore wind sector. It is based on a recent policy brief by climate policy think tank Energy Innovation. In the Forbes article, author Amanda Myers first presents the main benefits and opportunities of offshore wind in the U.S., highlighting...Read more »

USD3.6 million for Nature-Based Solutions in Ethiopia

The UN Economic Commission for Africa and the Government of Ethiopia signed a Memorandum of Understanding on August 13, 2020, kicking off a USD 3.6 million project on nature-based solutions for water resources infrastructure and community resilience in Ethiopia. The project is part of the Ethiopian Government’s Green Legacy initiative and serves as the official...Read more »

New Report on Nature-Based Solutions seeks to boost investments for a Green Recovery

On August 27, 2020, partners of the U.K. Ignition project launched the report Nature-Based Solutions to the Climate Emergency: The Benefits to Business and Society. The project’s aim is to develop innovative financing solutions for investments in Greater Manchester’s natural environment, helping the city to adapt to the impacts of climate change. The report presents...Read more »

Sustainable Recovery in Colombia: President underlines ambitions

Colombia’s president Ivan Duque sees his country on track to economic recovery. Participating in a virtual conference on August 20, 2020, he discussed the key role of the government’s stimulus and recovery plan, called Compromiso por el Futuro de Colombia. It includes investments over COP 100 billion (about EUR 22 million) and the creation of 1...Read more »

Natural Capital: HSBC and Pollination create large investment venture

On August 26, 2020, The Guardian reported the creation of a new joint venture that seeks to invest billions in natural capital around the world. HSBC Global Asset Management and Pollination, a climate advisory and investment firm, are forming the world’s largest investment firm dedicated to environmentally friendly projects beyond renewable energy. The plan is...Read more »

Singapore’s push for sustainable growth and social safety

Singapore President Halimah Yacob revealed plans for the country’s green recovery during the opening of the nation’s 14th Parliament on August 24, 2020. She announced major efforts to foster sustainable growth while improving social safety nets and education. The government plans to “push for green financing and sustainable infrastructure development across the region, to ride...Read more »

USD 2 Billion Loan for Climate Adaptation in Bangladesh

Bloomberg Green reported on August 24, 2020, that Bangladesh is expecting the World Bank to approve USD 2 billion in loans to support its ambitious climate adaptation plan, with the first installment planned for the beginning of next year. The funds would be used to implement the Delta Plan 100, which aims to minimize damages...Read more »

Clean Recovery: U.S. Democrats unveil USD 400 billion plan

On August 25, 2020, U.S. Senate Democrats published a comprehensive plan calling for the government to step up climate action and stimulate the creation of green jobs. The new report demands public spending of more than USD 400 billion a year to achieve net-zero emissions by 2050. The spending would equal about 2% of the...Read more »