Friday, 14 May 2021

EU bank will stop funding fossil fuel projects

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BRUSSELS: The European Investment Bank, the EU’s lending arm, said Thursday it will stop funding fossil fuel projects from 2022 as part of a new strategy aimed at fighting climate change.

“We will stop financing fossil fuels and we will launch the most ambitious climate investment strategy of any public financial institution anywhere,” EIB President Werner Hoyer said in a statement.

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