He warned that calls for spending restraint were misguided. “Europe is going very much in the right direction, on its green recovery efforts,” he said. “In the US, I very much hope this recovery plan goes through which includes lots of critical measures for a green recovery,” he said. “Other countries are following suit, but this is not yet a success story, on the green recovery among the G7,” he said. Birol added that the development banks funded by rich countries should be given a mandate to invest in low-carbon projects and a green recovery.

Source: The Guardian June 12, 2021 07:52 UTC