Green recovery after the crisis!

The Clean Air Action Group made recommendations upon the request of the Hungarian National Bank (MNB) to support the MNB's Green Program aiming to contribute to the environmentally sustainable recovery from the economic downturn caused by the COVID-19 pandemic.

According to the Clean Air Action Group, the most important task is to provide capital to businesses. This can best be achieved through the development of human resources, the improvement of the environmental conditions, and the establishment of a high-quality institutional and legal system. The NGO also pointed out that green economic recovery can only be achieved if we end the current practice of providing more funding to polluting, climate-damaging activities than the activities that make the economy greener.

Immediate action must also be taken to address the effects of potential further crises. Many studies suggest that we will face a series of crises in the decade ahead that will be more severe than the current coronavirus pandemic. In addition to the mandatory reduction of greenhouse gas emissions, Hungary needs to prepare for adaptation without delay. Immediately taken literally, as procrastination could lead to national tragedy.

Translated by Gábor Lakos