EBRD DUMPS OIL INVESTMENTS, WHILE EIB CONTINUES LENDING
January 1st, 2019
THE EUROPEAN Bank for Reconstruction & Development (EBRD) will stop funding upstream oil exploration. And it will not finance upstream oil development projects, except in exceptional circumstances where projects reduce greenhouse gas emissions. The commitments come in a new energy strategy for 2019-2023, where the bank added that it would continue to support the natural gas sector, where new plans and infrastructure helps countries switch from more carbon-intensive fuels, such as coal and oil. Funded projects also could not reduce renewable energy ...
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