News in cooperation with eceee.org

1,000 ‘shovel-ready’ projects identified in support of EU’s green recovery

(EurActiv, 3 Sep 2020) Business consultancy EY has identified 1,000 green projects it says will help Europe recover stronger and more resilient from the economic slump caused by the COVID-19 outbreak.

The projects require €200 billion of public and private investment to get off the ground, the consultancy said in a report published on Thursday (3 September).

This is a fraction of the €750 billion coronavirus recovery fund agreed by EU leaders in July to help relaunch the European economy after the coronavirus outbreak.

Approximately one-third of the projects are developed by start-ups and SMEs, and will support the creation of 2 million new jobs, EY said, adding those will create immediate social, environmental and economic value.

“This is however only the tip of the iceberg and we believe the value of the entire EU pipeline of green projects could be as high as €1 trillion, with the potential to return the more than 12 million full-time workers lost to COVID-19 into green and productive activity,” said Steve Varley, EY global vice-chair for sustainability.

External link

EurActiv, 3 Sep 2020: 1,000 ‘shovel-ready’ projects identified in support of EU’s green recovery