FILE PHOTO – Smoke and steam billow from smokestacks of factories near Chalampe, Eastern France, February 9, 2012. REUTERS/Philippe Wojazer BRUSSELS (Reuters) – A preliminary text agreed by EU member states calls on the European Investment Bank to stop funding fossil fuel projects, in what would be a breakthrough in the bloc’s climate policy and a blow to the coal, gas and oil industries. The document, seen by Reuters, was agreed on Tuesday by mid-ranking representatives of the EU’s 28 national governments, but still needs the green light from more senior diplomats. The text for the first time calls on the European Investment Bank (EIB), a multilateral development bank (MDB) and the bloc’s top lender, to bring to an end its multi-billion-euro funding of fossil fuel projects in a bid to reduce carbon emissions. The EU “encourages the MDBs to adopt responsible investment policies and to phase out financing of fossil fuel projects, in particular those using solid fossil fuels, taking into account the sustainable development and energy needs of partner countries,” the document said. EIB figures show the bank funded almost 2 billion euros ($2.2 billion) of fossil fuel projects last year and 13.4 billion euros worth since […]
Latest Articles
Cabbage-Growing Experiment Shows Human Waste Can be Good to Use as Fertiliser
Takeaways: New research has shown that using fertilizers from human waste can be as productive as conventional organic ones.
Scientists studied a crop of...
Mercedes-Benz Becomes First Stadium in the World to Earn Platinum Certification for Zero Waste
Takeaways: The Mercedes-Benz Stadium has become the first professional sports stadium in the world to be awarded the Total Resource Use and Efficiency Platinum...
Float Anywhere; this Solar-Powered Houseboat is the Future of Tiny Living.
Float Anywhere; this Solar-Powered Houseboat is the Future of Tiny Living. Float Anywhere; this Solar-Powered Houseboat is...
Biodiversity: Fungi are ‘Underloved and Understudied’
Takeaways: The vast majority of fungi in the world are harmless to humans and animals and are often beneficial.
The Saprophytic fungi, for example,...
The Top 5 Happy Eco News Stories for February 6, 2023
The Top 5 Happy Eco News Stories for February 6, 2023 Thanks for reading the Top 5 Happy Eco News! This week, we have two guest...
Baby Seals Spotted in Record Numbers on Norfolk Coast
Takeaways: A record number of baby seals have been spotted on a five-mile stretch off the coast in Norfolk.
3796 seal pups have been...