In December 2020, the European Parliament and the Council reached a final agreement on the €700 billion European Recovery Plan. This step paves the way for the implementation of a green recovery.
As a member of the European Alliance for Green Recovery - which currently has more than 300 signatories including Ministers, CEOs, Members of the European Parliament, trade unions, NGOs and think tanks – FSC is proud to celebrate this victory.
The European Alliance for Green Recovery, led by Member of European Parliament Pascal Canfin, has fought for and managed to include the following key elements in the agreement:
- In the recovery plan that each Member State will submit to the European Commission, at least 37% of the financing must be dedicated to the fight against climate change.
- All recovery plans financed by the European Union (EU) will have to respect the "Do No Harm" principle. This ensures that 100% of the funds will have no negative impact on the climate and the environment.
- To avoid greenwashing, a new methodology has been created based on taxonomy to track climate-related spending. This guarantees that only investments that are truly favourable to the fight against climate change will be considered.
This unprecedented deal will make it possible at the European level to mobilize around €250 billion for the fight against climate change between now and 2024. It is the biggest green investment shock ever made at the European level.
As steward of forests, FSC will keep working with the EU Institutions to make sure that sustainable forestry policies are embedded in EU policies and legislations.