00:00President Biden, dear colleagues, as we fight the pandemic in our countries, we cannot lose sight of the other crises
00:09we face, tackling climate change.
00:13In the Paris Agreement, we pledged to limit global warming to 1.5 degrees Celsius compared to pre-industrial levels,
00:22but the actions we've taken since have proven insufficient.
00:25Under current policies, we are set to achieve three degrees of global warming.
00:33We need to reverse course and do it soon.
00:37The fiscal plans we are designing to help our countries recover from the COVID-19 offer a unique opportunity.
00:47We can transform our economies and pursue a greener and more inclusive growth model.
00:53In Europe, we launched a 750 billion euro joint plan, what we call the next generation EU.
01:02One of its objectives is to support the environmental transition in Europe and make the EU carbon neutral by 2050.
01:11Around 10% of it, roughly 70 billion euros, will go for investment in green infrastructures, circular economy and sustainable
01:23mobility in Italy only.
01:25Granted, the biggest uncertainty is to support the waves and to improve the power of the UK.
01:26Thank you.
01:26Thank you.
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