EU Bank to cease funding fossil fuel projects by end of 2021

The European Investment Bank’s new energy lending policy, which was approved with “overwhelming” support, will bar most fossil fuel projects, including traditional use of natural gas

The European Investment Bank said on Thursday it would stop funding fossil fuel projects at the end of 2021, in a landmark decision.

The bank’s new energy lending policy, which was approved with “overwhelming” support, will bar most fossil fuel projects, including traditional use of natural gas, bank vice president, Andrew McDowell told reporters in a call.

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