the Commission upheld the decision of the European investment Bank (EIB) to stop the end of 2021 the funding of projects in the field of fossil fuels. At the same time, the Commission supports increased funding of low-carbon energy, which will also lead to a gradual cessation of support of projects related to fossil fuels, including natural gas.
Board of the EIB in the Thursday adopted strategy, according to which the Bank as of the end of 2021 will not consider new investments in projects in the field of fossil fuels. Investment Bank, selecting projects for funding will be given priority, including those that increase energy efficiency and decarbonization of energy.
Bank from the end of 2020 will be to link funding with the goals of the Paris climate agreement, noted by the media. The EIB also intends to support the transition of the EU economy to climate neutrality by 2050, evidenced by his message. Earlier, the European Commission proposed the strategy according to which net emissions of greenhouse gases in the atmosphere (i.e. emissions and absorption) can be reduced to zero by 2050.
