European Investment Bank proposes end to fossil fuel lending

LONDON - The European Investment Bank wants to stop funding new fossil fuel-reliant projects by the end of 2020, a draft of the EU lending arm’s new energy strategy showed on Friday.

The development bank proposed phasing out support to energy projects that were “reliant on fossil fuels: oil and gas production, infrastructure primarily dedicated to natural gas, power generation or heat-based on fossil fuels.” The EIB board, which is made up mostly of EU finance ministers, is expected to discuss the proposals at a meeting in September, though a final decision could take longer.

“This long-term transition is profound. Solidarity is required to ensure that potentially vulnerable groups or regions are supported,” the EIB proposal document said.

Y la refineria del pejestorio apa

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The ECB could someday add buying stocks to its list of policy moves, Wall Street strategists sayThe European Central Bank could add equities to the list of assets it would buy to shake Europe out of its doldrums and stir up some inflation, according to market pros. Everyone buy everything! You mean that haven’t secretly been doing it already? The road to becoming Japan.
Source: CNBC - 🏆 12. / 72 Read more »

Flare Capital just raised $255 million, and the buzzy VC firm's cofounder told us he wants to invest in companies trying to reinvent the way we get healthcare in the USBehavioral health, senior care, and end-of-life care some of the new areas of focus for the health-tech venture fund.
Source: BusinessInsider - 🏆 729. / 51 Read more »

India bank lending to non-bank firms set to gather pace: RBI governor to Business StandardThe credit flow to India's non-banking finance companies (NBFCs) should gat... heres the recipe for a shit sandwich..doesnt anyone learn from history?
Source: Reuters - 🏆 2. / 97 Read more »