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Policy & Regulation

EIB U-turn risks gas infrastructure investment

The EIB is taking steps to become a ‘climate bank’ – at the expense of gas projects. It intends to phase out loans to all fossil fuel developments from 2021 The EIB is taking steps to become a ‘climate bank’ – at the expense of gas projects. It intends to phase out loans to all fossil fuel developments from 2021.
By Anna Gumbau 8 August 2019 Europe & Russia / Policy & Regulation 0 34471
The headquarters of the European Investment Bank in Luxembourg. (EIB)

The key issue: The European Investment Bank released its draft energy lending policy on 26 July, which aims to phase out loans to all fossil fuel projects – including gas – from 2021.

Interfax analysis: The European Investment Bank’s (EIB’s) draft energy lending plan represents a U-turn in its approach to gas project funding and could severely hamper the role of gas as a transition fuel in the EU.

In October last year, EIB President Werner Hoyer maintained that gas infrastructure would still...