A growing number of business representatives, NGOs, citizens and political leaders have called on the EU to restructure its economy by launching the largest green investment plan to date and targeting public finances only on clear environmental and climate criteria. A few weeks ago, the European Parliament also emphasized that all recovery measures must be fully in line with the spirit of the Paris Agreement and in line with the EU’s climate neutrality and biodiversity objectives.
At present, the EU Recovery Plan unanswered questions about the share of possible support for environmentally harmful activities, climate and environmental spending, the adequacy of investment in nature restoration and carbon-neutral sectors. There is also a lack of clarity on the level of funding for green job creation and the use of EU taxonomy to determine which actions are eligible for recovery.
Understanding the perspectives and implementation risks of the EU Recovery Plan, and the decisions taken so far by the Latvian government to eliminate the consequences of the crisis, the WWF has prepared recommendations for Latvia’s economic recovery, calling on the President, Saeima and a fair economy in line with the European Green Course, the Paris Agreement and the UN Sustainable Development Goals.
Jānis Rozītis, Director of the World Wide Fund for Nature, emphasizes: “We must not miss the opportunity created by the crisis to do things differently. The crisis has provided an opportunity to stop, to analyze the actions and their consequences. If we learn from our successes and failures, use the best knowledge and experience in the world, we will strengthen our country. Let’s look at this critical moment as an opportunity to invest in a society that ensures its well-being in harmony with the environment and natural resources. ”
Economic recovery, while addressing environmental, economic and social issues, can ensure the well-being of the Latvian population and make it more resilient to future shocks.
The Recovery Plan presented by Europe clearly signals an urgent economic transformation based on the objectives of the European Green Course, the principles of sustainable development and environmental conditions. Further discussions with Member States in the process of approving this plan will determine whether the proposed recovery plan at national level will be adequately supported by leadership and the rule of law.
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