The European Union has proposed spending hundreds of billions of euros on green industries as part of a plan to allay the fallout from the coronavirus pandemic, building on a pledge to turn the bloc into a carbon-neutral economy by 2050. The 750 billion–euro ($821.6 billion) recovery plan and the separate €1.1 trillion budget for 2021–27, which were unveiled Wednesday, have earmarked billions for renewable energy, clean transport, hydrogen power and energy-efficient building renovations. The European Commission, the bloc’s executive, has proposed that a quarter of the budget go to combating climate change. Don’t miss:Microsoft, Visa and others worth combined $11.5 trillion want Congress to...
Full ArticlePandemic recovery funds could help jump-start European Green Deal initiative
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