Last week the European Union unveiled what it is saying is the biggest green stimulus package in history in an effort to turbo-charge the EU's effort to reduce its carbon emissions to zero by 2050.
It plans to pump an initial €750bn into a package to recover from the pandemic that puts tackling climate change at the top of the agenda. And this is just the initial figure! If you add in the planned spending from future budgets and the total financial firepower the European Commission says it will be wielding is almost €2tn.
Frans Timmermans, the Vice President of the European Commission, said "not a single Euro should be spent on propping up dirty industry". The plan envisages major investment in to renewable energy, insulating homes and electric and hydrogen powered vehicles.
Now where does this leave the UK? This week, over 200 of major business leaders called on the Government to make sure that any recovery plan for the UK prioritises green policies. Calling for any government support for carbon intensive industries should have "green strings" attached.
The recovery from COVID-19 presents a once in a generation chance to transform the economy to boost investment into green technology and create jobs in clean industries. I just hope that the Government shows that the UK too can be leaders in a green recovery and ensure that the UK really does "Build Back Better".
"The recovery should be green or it will not be a recovery."