‘This is the moment for the EU to lead the way,’ says EU chief Ursula von der Leyen

In her first speech on the state of the EU, Ursula von der Leyen said the bloc should significantly increase its emissions-cutting targets. She also unveiled a plan to reboot Europe’s economy amid the coronavirus crisis. The EU’s most powerful senior official unveiled plans to reboot the bloc’s battered economy with what is being dubbed a "green new deal." Ursula von der Leyen, the president of the European Commission, said the EU should significantly toughen its emissions-cutting target to at least 55% by 2030. "I recognize that this increase from 40 to 55 is too much for some, and not enough for others," she said in a speech to EU lawmakers in Brussels. "But our impact assessment clearly shows that our economy and industry can manage this." She suggested that 30% of the bloc’s €750 billion coronavirus recovery package should be raised through green bonds, which are financial instruments aimed at supporting climate-friendly projects. The EU agreed the stimulus plan in July that will allow the European Commission to raise billions of euros on the global financial markets. MEPs and EU governments would still need to agree to the plan. Some countries argue such green targets are harder to […]

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