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Policy & Regulation

EU vote narrows EIB gas lending to low-emission projects

The policy will effectively ban lending to unabated fossil gas projects by 2022 but could open doors for more investment in carbon-capture technologies and ‘green’ gases The policy will effectively ban lending to unabated fossil gas projects by 2022 but could open doors for more investment in carbon-capture technologies and ‘green’ gases.
By Christian Ernhede 15 November 2019 Europe & Russia / Policy & Regulation 0 34793
The headquarters of the European Investment Bank in Luxembourg. (EIB)

The European Investment Bank's (EIB's) board of directors, made up of representatives from EU member states along with the European Commission, reached an agreement on Thursday on the bank's future energy lending policy that will end EIB financing to unabated fossil fuel projects by 2022. The ban will include fossil gas unless carbon-capture technologies are deployed.

The 11-hour meeting – the third board meeting attempting to reach a consensus on the issue since September – highlighted the divisions among member states on the...