Finance: becoming green while in the red

(EurActiv, 16 Nov 2020) While it might be tempting to dismiss the recent commitments by China and the European Union to achieve net-zero greenhouse-gas emissions within the next few decades, doing so would be a mistake.

Mairead McGuinness was recently appointed as EU Commissioner for financial services, financial stability and Capital Markets Union. This opinion piece was written exclusively for EURACTIV.

We are living through unprecedented times: a pandemic that is forcing us to rethink how we live, work and play and a climate crisis that needs urgent attention. 

The EU’s economy alone is expected to contract more than 8% this year, according to the European Commission.

At the same time, we are in a climate emergency, as the European Parliament declared in December 2019 – around the same time as the first signs of the coronavirus were appearing.

The need for EU solidarity and global collaboration was never greater.

Rightly, the COVID-19 crisis is not being used by Europe to delay action on climate change and the green transition. The commitment to the European Green Deal remains strong, to help us tackle climate and environmental challenges and stimulate sustainable growth and recovery.

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EurActiv, 16 Nov 2020: Finance: becoming green while in the red