On the 11^th of December 2019, the European Commission presented the Green Deal as a roadmap for the EU to address climate change and its far-reaching implications. Its primary aim is to ensure the EU is carbon neutral by 2050.  In addition, it aims to invest in environmentally-friendly technologies, support industries to innovate, decarbonise the energy sector, roll out cleaner public transport, ensure buildings are energy efficient, improve global international standards and provide financial and technical support for regions, businesses and individuals.

Three months later, the world changed dramatically as a result of the Covid-19 pandemic. Countries around the world were faced with one of the most challenging crises in recent times. Spain, Italy and other EU states were some of the worst affected as infections and deaths continued to rise on a daily basis. We are continuing to experience lockdowns, shortage in medical equipment and personnel, increased unemployment, travel restrictions and other serious challenges.

The economic impact has been equally severe. The global economy is slowing down and most countries in Europe are preparing for recessions. Airlines, tourism, hospitality and related sectors have been the first casualties. Small businesses, manufacturing, energy, sports, entertainment, technology and other retail sectors have also had to taking drastic measures to continue to survive.

This leaves us at a crucial crossroad and raises some very important questions about the future of the European, and global economy. How can we rebuild our industries/sectors that have been adversely affected by the coronavirus? How soon can we get back to ‘normal’? Who or how are we going to pay for any recovery programmes? How can we save and create more jobs?

The European Commission has made it clear that the Green Deal will be at the centre of the EU’s recovery efforts. Policy makers, financial institutions, the private sector and other experts have called for cooperation and solidarity between all stakeholders to use this opportunity to bridge the gap between Covid-19, sustainability and climate change. The European Green Deal Investment Plan (EGDIP) is also widely seen as an important tool to boost recovery, create jobs and stimulate economies.

The Centre for Sustainability, Innovation and Good Governance (CSIGG) will be hosting the 2020 Green Finance Roundtable; a policy and strategy meeting that will bring together Members of European Parliament, representatives from the European Commission, central banks, commercial banks & other financial institutions, academics, regulatory bodies, technology providers and other key stakeholders to discuss the impact of Covid-19 on green finance in Europe.