MOSCOW (Pakistan Point News / Sputnik - 16th September, 2020) European Commission President Ursula von der Leyen urged on Wednesday for 30 percent of the Next Generation EU recovery instrument to be raised through green bonds, stressing the need to take "green financing" to a new level.
"The Next Generation EU will make a real difference. Firstly, 37 percent of the Next Generation EU will be spent directly on our European green deal objectives. I will ensure that it also takes the green financing to a new level. We are the world's leaders in green finance and we are the largest issuer of green bonds worldwide. We are leading the way in developing a reliable EU green bond standard. And I can announce today that we will set a target of 30 percent of the Next Generation EU's 750 billion Euros [$889 billion] to be raised through green bonds," Von der Leyen said at the 2020 State of the European Union debate.
