European development bank ceases support for coal projects

Written by Oliver Wade

The European bank which funds international development will cease paying for coal projects in a bid to reduce carbon emissions, it announced yesterday.

The European Bank for Reconstruction and Development (EBRD) further reported it would stop funding oil exploration projects, only paying for oil development in exceptional circumstances, in which investment would support the reduction of greenhouse gases.

The coal ban includes a cut in all financing for thermal coal mining and coal-fired electricity generation, the European bank said.

The EBRD, one of the world’s largest international development lenders, has put decarbonisation at the forefront of its energy sector strategy for the next five years.

    Share Story:


Specialist FTB and BTL markets
Adam Cadle talks to Vida Homeloans director of sales - mortgages Louisa Sedgwick about the specialist first time buyer and buy to let markets


Subscribe to our newsletter to receive breaking news by email.

MoneyAge welcome
MoneyAge Editor Adam Cadle discusses the brand and what is on offer

World Markets (15 minute+ time delay)