EIB urged to stop financing fossil fuels as risk of stranded assets grows

Campaigners have called for tougher rules to block the EU's investment bank from financing fossil fuels, while a new report suggests energy majors continue to pump billions in climate-harming projects

Campaigners have called for tougher rules to block the EU's investment bank from financing fossil fuels, while a new report suggests energy majors continue to back projects that are out of step with the Paris Agreement.

The board of the European Investment Bank (EIB) is due to discuss on 10 September its changes to energy lending policy that seek to limit support for fossil fuels. However, green groups have criticised its draft plan for what they see as loopholes that would allow cash to flow to conventional energy projects.

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