EU Presents $572 Billion Green Stimulus Package

European Union leaders agreed on Tuesday to allocate more than US$572 billion (500 billion euro), or 30 percent of the massive stimulus package, for investments in policies to fight climate change in the largest green stimulus package which, however, fell short of expectations. Following marathon talks for five days, the EU leaders agreed to an overall amount for commitments of US$1.23 trillion (1.074 trillion euro) to support the EU’s recovery for the next seven years through 2027. The EU set an overall climate target of 30 percent that…