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(7) The European Green Deal underpins the Next Generation EU Recovery Plan, which promotes investment in sectors which are key for the green and digital transition, in order to build resilience and create growth and jobs in a fair and inclusive society. The Recovery and Resilience Facility, which will power the Union’s economic recovery from the COVID-19 crisis, together with the Union budget for 2021-2027, is also based on the priority objectives set out in the European Green Deal. Furthermore, all initiatives under the Next Generation EU Recovery Plan are to respect, where applicable, the ‘do no significant harm’ principle as set out in Article 17 of Regulation (EU) 2020/852 of the European Parliament and of the Council Regulation (EU) 2020/852 of the European Parliament and of the Council of 18 June 2020 on the establishment of a framework to facilitate sustainable investment, and amending Regulation (EU) 2019/2088 (OJ L 198, 22.6.2020, p. 13). (the ‘Taxonomy Regulation’). The Next Generation EU Recovery Plan offers an important opportunity to accelerate the pace of transition towards climate neutrality and the protection of the environment.

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Source: EUR-Lex (Cellar) · retrieved 2026-11-07 · Text as adopted (Official Journal); later amendments are not incorporated in this text.