The European Investment Bank (EIB) has published its new policy for energy investments. In the new draft policy, the bank states to stop investing in fossil fuel related projects from 2020. This is good news for the climate, so Both ENDS and partners are happy with this draft policy. The shareholders of the bank, the member states of the European Union, still have to approve it.
Brussels, 7 May 2019 - In an unprecedented Climate Action Call published today, a broad coalition is urging European leaders to take decisive action to respond to the climate emergency. Hundreds of European cities, regions, businesses, youth and faith groups and civil society organisations working on climate, human rights, litigation, mobilization, sports and health call upon leaders to profoundly alter the way we run our societies and economies to limit temperature rise to 1.5°C.
In 2011 one of the world’s largest gas reserves was found in the coastal province of Cabo Delgado, in the north of Mozambique. A total of 35 billion dollars has been invested to extract the gas. Dozens of multinationals and financiers are involved in these rapid developments. It is very difficult for the people living in Cabo Delgado to exert influence on the plans and activities, while they experience the negative consequences. With the arrival of these companies, they are losing their land.