Rich Nations must make Pandemic Recovery Plans Green
The world’s richest nations must ensure their COVID-19 recovery plans are sustainable and help meet the goals of the Paris climate accord, according to leading global investor groups that together manage trillions of dollars in assets.
While some members of the world’s 20 biggest economies such as Britain, France and Germany have made statements about doing just that, some of the biggest emitters such as China and the United States have yet to do so.
The intervention comes as more governments start to plan for the lifting of lockdown restrictions that have cratered the revenues of companies from airlines to retailers and radically changed the economics of the energy sector.
The groups said private capital would play a key role in the recovery, but investors needed long-term policies to be put in place that reflected the agreed move to a low-carbon economy.