Environmental groups tell EU leaders to green all investments and explore Eurobonds

Europe’s economy is on its knees and Europeans long to be able to return to work. The EU and national governments are preparing to spend hundreds of billions (some estimate up to 10% of GDP or 1.5 trillion euro) of taxpayers money to reboot the economy. Sign the petition HERE.

Stronger Together

But that doesn’t mean bailing out the usual suspects such as fossil fuels, chemicals, polluting cars and airlines, the EU’s biggest environmental groups [1] say. Ahead of a leaders’ summit this Thursday, they’re calling on governments and the EU to prepare an unprecedented ‘green and just’ economic recovery plan financed by the bloc’s budget, the European Stability Mechanism and possibly even Eurobonds.

The joint appeal issued today is an unprecedented show of unity by the green movement as lawmakers are lobbied to return to ‘business as usual’. 

Lawmakers should step up and implement the environmental laws announced in the European Green Deal, they say. Greening investment policy will support and accelerate a just transition to a cleaner economy. They call on the European Investment Bank’s lending policies to be brought in line with the Green Deal’s objectives by the end of this year. 

Stimulus investments in polluting sectors must be conditional on their alignment with environmental and climate objectives. State aid, loans and other support to companies must come with strict conditions, they say.

“We call upon EU and national leaders to tackle the unprecedented crisis caused by the Covid-19 pandemic with unity, courage and innovation,” the groups say.

William Todts, Executive Director at T&E stated: “There’s a lot of lip service being paid to the idea of a green recovery plan. But talk is cheap. This is an unprecedented crisis and it will require an unprecedented response. That means eurobonds; green conditions on state aid; new regulations to give investment certainty to business. Now is the time to go all in. It may well be our only chance to exit the crisis greener, stronger and more united.” 

In support of this civil society appeal the citizens’ movement WeMove will launch a petition urging Europeans to join the movement and call for unity and courage to tackle this unprecedented crisis: www.wemove.eu/greenrecovery

Sign the joint petition at https://www.act.transportenvironment.org/en-UK/yes-green-recovery-people-and-planet

ENDS

Notes to Editor:

[1] As of 07:00 am on Thursday 23 April, the signatories of the appeal are: 

 

Contact the press team

Eoin Bannon
Media Manager
+32 (0)487 717296 
eoin.bannon@transportenvironment.org

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