Welcome to the European Parliamentary Research Service podcast on the European Green Deal investment plan.

Despite the Commission's assurances that the long-term work on the European Green Deal will continue in parallel to the coronavirus firefighting, the COVID-19 emergency and the need to deal with its socio-economic consequences is raising concerns

that decarbonisation strategies could be derailed.

But is this a real threat or could it also be an opportunity?

There's no lack of voices arguing that green investments need to play a central role in any economic recovery plan. Stay with us.

The Vondelai Commission took office with one big promise to transform the Union into a climate-friendly,

competitive and inclusive economy. To materialize this vision, in December 2019, the Commission launched the

European Green Deal. Which is sort of the roadmap to turn Europe into the first climate-neutral

continent by 2050. To do that, we need new laws, new guidelines, and a lot of fresh money.

Certainly, 260 billion euros of additional investment each year over the next decade,

to be precise. It's based on the current target of reducing greenhouse gas emissions by 40% by 2030,

as compared to 1990 levels. And considering that the Green Deal plans to increase this target

to at least 50%, we'll need even more money. That's why the Green Deal plans to increase this target to at least 50%,

we'll need even more money.

That's why the Green Deal comes with an important attachment,

an investment plan to mobilize public and private funding necessary for the green transition.

The investment plan is organised along three main dimensions,

funding and enabling framework and support for implementation.

Let's talk money first.

Over the next 10 years, the European Commission wants to mobilize at least one trillion

euro of sustainable investment by increasing the resources devoted to climate action under the

EU budget and leveraging

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