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‘Massive’ investment in green R&D needed, says EU bank chief

Image: European Investment Bank

EU needs to invest about €350bn more annually to achieve 2030 greenhouse emissions target

Europe will need to undertake “massive investment in research and development” to recover from the Covid-19 pandemic in an environmentally sustainable way, according to Werner Hoyer, the president of the European Investment Bank.

The pandemic has “derailed many global efforts in meeting many [UN] Sustainable Development Goals”, and it is “imperative that Covid-19 does not dilute our commitment towards climate and sustainable growth agendas”, he said.

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