EU’s experts group: COVID recovery spending should be guided by green finance plan

The European Commission’s Technical Expert Group (TEG), a 35-member panel of investors, business leaders and climate policy experts, released a statement on Monday, citing that the European Union (EU) coronavirus fiscal response should be in line with the bloc’s climate policy.

Key takeaways

“The opportunity for a resilient, sustainable and fair economic recovery is right before us.

We encourage all governments, public institutions and the private sector to use the right tools for the job.

The TEG has also drawn up a green bond standard for the EU and a framework to assess whether financial instruments, contracts or investment funds conform with the goals of the Paris Agreement on climate change.”

Meanwhile, EUR/USD keeping marching northwards, as the greenback continues to lose ground across the board amid improved market sentiment on stimulus hopes and encouraging virus data. The main currency pair trades at 1.0856, up 0.33% on a daily basis and near three-day highs.