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EU bank to move support from fossil-fuels to green energy

Image: Masianya, via Shutterstock

European Investment Bank claims ‘most ambitious climate investment strategy anywhere’

The board of the European Investment Bank (EIB) has voted to stop financing fossil-fuel energy projects from the end of 2021, and instead put €1 trillion into projects to tackle climate change by 2030.

In a reversal of its energy lending policy, the EIB and its sister bank the European Investment Fund will, from the end of 2020, align all financing activities with the goals of the 2015 UN climate change agreement.

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