European Investment Bank drops fossil fuel funding
The European Union is to stop funding oil, gas and coal projects at the end of 2021, cutting €2bn (£1.7bn) of yearly investments.
by BBC, November 14, 2019
The European Investment Bank (EIB), the EU’s financing department, will bar funding for most fossil fuel projects.
The ban will come into effect a year later than originally proposed after lobbying by EU member states.
Since 2013, the EIB has funded €13.4bn of fossil fuel projects.
Read more: https://www.bbc.com/news/business-50427873
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