ECONOMY

Green shift still focus of recovery plan

Green shift still focus of recovery plan

Despite the challenges from the health and energy crises, “the alignment of economic growth with our ambitious goals for the climate remains the focus of Greece’s strategic priorities,” Finance Minister Christos Staikouras told the Coalition of Finance Ministers for Climate Action online meeting on Tuesday.

At the 2022 Annual Meetings of the World Bank Group and the International Monetary Fund, he underlined that the National Recovery and Resilience Plan has allocated over 37% of the budget to key green investments and reforms. These include the climate as a factor in the state budget; a cohesive national Strategy for Viable Funding and Green Economic Transition, which is being drafted; and an updated framework of environmental taxation, which is being planned, in order to support climate neutrality in tandem with support for social and economic cohesion.

Greece is also considering a green bond that could be included in this year’s state funding strategy, he said. “The unprecedented challenges require inspired and visionary solutions. Our purpose is to successfully manage concurrent crises and their repercussions, while guaranteeing that our children will inherit a planet with a resilient climate,” he said.