GRI: Three signs prove EU’s €1 trillion sustainable investment plan underway

26 / 04 / 2020

By Marwa Nassar - -

The Global Reporting Initiative (GRI) hailed the European Union’s commitment to the EU Green deal despite the coronavirus crisis.

Writing on Wednesday in EURACTIV (COVID crisis reinforces need for governments to go green), GRI chief executive Tim Mohin highlighted that there are three recent signs that the Green Deal, inclusive of a €1 trillion sustainable investment plan, remains on track.

The three signs include a letter signed by 13 EU environment ministers that has called for the Green Deal to be the framework to boost recovery after the pandemic. In addition, a statement was issued by the European Council stressing that a green transition is required to support sustainable growth following the crisis.

The European Commission has also accentuated that its members are working to achieve EU carbon neutrality.

Mohin added that “It is reassuring that, even as we battle coronavirus, the European Commission has the foresight to press ahead with the Green Deal, which is being positioned as the framework to rebuild the economy after the pandemic.”

“With the international community coming together to address COVID-19, joint working between the public and private sectors has never been more important. And when the world emerges from this crisis, we need to continue this collaboration to advance sustainable and inclusive development,” he underlined.

Europe’s leaders are to be commended for committing to a green transition. Now, more than ever before, this is the kind of bold leadership the world needs.”

GRI has previously highlighted the significance of the European Commission’s plans to strengthen the Non-Financial Reporting Directive in the sustainable finance workstream of the Green Deal. This acknowledges the clear link between disclosing corporate impacts and encouraging sustainable business practices.