The European Union is considering a proposal that would make technology companies that use the most bandwidth, like Netflix Inc. and Alphabet Inc., help pay for the next generation of internet infrastructure, according to a draft document seen by Bloomberg.

Impax Asset Management Group Plc, one of the world’s largest ESG fund managers, is exploring stocks and sectors it once avoided as the US Inflation Reduction Act redraws the green investing map. The Act, which was passed in December 2020, aims to reduce inflation by capping the amount of money that can be printed by the US government. This could have a major impact on the economy, and Impax is looking at how it can profit from the changes.

The unexpectedly upbeat surveys suggest that while the global economy could slow this year under pressure from high prices and interest rates, a recession appears less likely thanks to the receding threat of energy shortages in Europe and China’s postpandemic reopening. These positive developments suggest that the global economy may be able to weather the challenges it faces in the coming year.

The US climate bill passed last year has caused a stir at the Davos summit this week, with German officials expressing concerns and European lawmakers feeling pressure to respond. Officials from the European Commission to the leaders of France and Germany are now calling for industrial bills that would match the US incentives.

The head of the European Union’s executive arm said the bloc should pass a new law to fast-track investments in clean tech and boost funding for the energy transition.