The European Investment Bank to stop funding fossil fuel projects by 2021

The European Investment Bank (EIB)’s decision will end over € 2 billion of annual investments in fossil-fuel projects

The European Investment Bank (EIB) has agreed to phase out lending for almost all fossil-fuel projects after 2021, including standard gas-fired power stations.

The bank is the first multilateral development bank to go so far in curbing fossil-fuel support due to climate change.

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