Europe to end fossil-fuel financing in bid to become carbon neutral
With EU leaders considering committing to climate neutrality by 2050, Europe is a step ahead of other major emitters
16 November 2019 - 08:59
Brussels — The European Investment Bank (EIB) has adopted an unprecedented strategy to end funding for fossil-fuel energy projects, in a move expected to support Europe’s plans to become the first climate-neutral continent.
The board of the Luxembourg-based lending arm of the EU decided at a meeting on Thursday to approve a new energy policy that includes increased support for clean-energy projects. The bank will not consider new financing of unabated fossil fuels, including natural gas, from the end of 2021...
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