Brussels Forum 2020 // The Green Deal as the Backbone to the COVID-19 Recovery Plan
Even with trillions of dollars and euros in economic relief being dispersed around the world to combat the coronavirus recession, estimates are that the global economy will shrink some 4% in 2020, wiping out nearly four years of gains. As such, much debate has surrounded how to best address these huge losses. One idea in particular has sparked debates from across political aisles-implementation of the Green Deal. Proponents have argued that with a massive investment in low-carbon infrastructure and technology, the Green Deal would help accelerate the economy during recovery from the coronavirus recession by adding thousands of new jobs while at the same time calming markets and boosting consumer confidence. However, this argument has been met with some opposition those who fear it could lead to further job losses in the energy and transportation sectors and a deepening of the economic downturn. The Green Deal has long seemed an incredibly tall task-and it still is. But with mass investment already needed to revive the global economy, could the time be right for the Green Deal? Participants in this session will discuss how the current crisis can create further momentum for the Green Deal in Europe. What actions must be taken by both the private and public sector to make the Green Deal a reality? Can Europe lead by example?