In boost to climate policy, EU makes first move to end fossil fuel funding


  • World
  • Wednesday, 06 Nov 2019

A truck drives by as steam rises from the five brown coal-fired power units of RWE, one of Europe's biggest electricity companies in Neurath, north-west of Cologne, Germany, Germany, March 12, 2019. REUTERS/Wolfgang Rattay

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.

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In World

Intel reports revenue increase in first quarter
Microsoft reports Q3 results with net income, revenue increases
Finland's finance ministry downgrades growth forecast for 2024
Multiple people killed in car crash in U.S. Pleasanton
U.S. stocks close lower
Czech Republic records over 10,000 whooping cough cases this year
Roundup: U.S. witnesses bird flu outbreaks in poultry, dairy cows
US and allies aim to help Ukraine bolster defenses after aid gap
5 Tunisian fishermen dead after boat sank off eastern coast
Crude futures settle higher

Others Also Read