EU SIGNALS CLAMP DOWN ON FUTURE FOSSIL FUEL DEVELOPMENT PROJECTS
October 1st, 2019
THE EUROPEAN Union (EU) Council of Ministers has signalled that it is prepared to clamp down on EU funding of oil and gas projects, as it considers how to achieve anticipated new ambitious climate change goals.
In a joint policy statement released earlier this month (November 8), EU ministers said multilateral development banks should “adopt responsible investment policies and to phase out financing of fossil fuel projects, in particular those using solid fossil fuels…” The declaration is important, given EU member states control the European Investment ...
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