EUROPEAN INVESTMENT BANK TO PHASE OUT FOSSIL FUELS FINANCING

WE WILL STOP FINANCING FOSSIL FUELS AND LAUNCH THE MOST AMBITIOUS CLIMATE INVESTMENT STRATEGY OF ANY PUBLIC FINANCIAL INSTITUTION ANYWHERE, HOYER ADDED.

EUROPEAN INVESTMENT BANK TO PHASE OUT FOSSIL FUELS FINANCING

Energy projects applying for EIB funding will have to show they can produce one kilowatt hour of energy while emitting less than 250 grammes of carbon dioxide.
The European Investment Bank has agreed to phase out its multibillion-euro financing for fossil fuels within the next two years to become the world's first '"climate bank".
Under its new policy, the bank will end all lending to fossil fuels within two years and align all funding decisions with the Paris climate accord.

The European Investment Bank has agreed to phase out its multibillion-euro financing for fossil fuels within the next two years to become the world’s first ‘“climate bank”. The bank will end its financing of oil,...

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