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EU's Michel says G20 must 'urgently' address global green finance

European Council President Charles Michel gives a news briefing ahead of G20 meeting in Saudi Arabia, in Brussels, Belgium November 20, 2020. Olivier Hoslet/Pool via REUTERS

BRUSSELS (Reuters) - Countries must collaborate more to boost sustainable finance and follow the European Union’s lead in developing green bond standards, European Council President Charles Michel said on Friday.

Speaking ahead of a meeting of G20 leaders on Saturday, Michel said countries must help mobilise the “massive” investments needed to tackle climate change, including by developing common standards for green bonds.

“The European Union has started to work on this, and we believe that the G20 should urgently address the global issue of green finance,” Michel said.

Reporting by Jan Strupczewski, Kate Abnett, editing by Marine Strauss