{"id":301113,"date":"2019-11-15T12:46:27","date_gmt":"2019-11-15T07:16:27","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=301113"},"modified":"2019-11-15T12:46:27","modified_gmt":"2019-11-15T07:16:27","slug":"eu-bank-to-stop-funding-fossil-fuels-in-landmark-decision","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/eu-bank-to-stop-funding-fossil-fuels-in-landmark-decision\/","title":{"rendered":"EU bank to stop funding fossil fuels in &#8216;landmark decision&#8217;"},"content":{"rendered":"<p>Brussels: The European Union&#8217;s investment arm has said it will stop funding fossil fuel projects from 2022 as part of a new strategy aimed at fighting climate change, in a decision environmental campaigners hailed as a &#8220;significant victory&#8221;. The European Investment Bank, the world&#8217;s largest multilateral lender, had been criticised by climate groups for funding gas projects that potentially threatened the EU&#8217;s commitment to the Paris climate goals.<\/p>\n<p>But despite gas proving a potential sticking point, the EIB&#8217;s board of directors &#8212; composed of state representatives and the European Commission &#8212; approved the new energy policy on Thursday.<\/p>\n<p>&#8220;We will stop financing fossil fuels, and we will launch the most ambitious climate investment strategy of any public financial institution anywhere,&#8221; EIB President Werner Hoyer said in a statement.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Brussels: The European Union&#8217;s investment arm has said it will stop funding fossil fuel projects from 2022 as part of a new strategy aimed at fighting climate change, in a decision environmental campaigners hailed as a &#8220;significant victory&#8221;. The European Investment Bank, the world&#8217;s largest multilateral lender, had been criticised by climate groups for funding gas projects that potentially threatened the EU&#8217;s commitment to the Paris climate goals. But despite gas proving a potential sticking point, the EIB&#8217;s board of directors &#8212; composed of state representatives and the European Commission &#8212; approved the new energy policy on Thursday. &#8220;We will [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-301113","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/301113","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=301113"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/301113\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=301113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=301113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=301113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}