Under the new policy, energy projects applying for EIB funding will need to show they can produce one kilowatt hour of energy while emitting less than 250 grams of carbon dioxide, a move which excludes traditional gas-burning power plants.
Gas projects are still possible, but would have to be based on what the bank called "new technologies" such as carbon capture and storage, combining heat and power generation, or mixing in renewable gases with the fossil natural gas.
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The EIB has ambitious goals on sustainable finance. Mr McDowell said the bank wants to "set the standard" for what it meant for banks to be aligned with the Paris climate agreement.
Submitted November 14, 2019 at 04:18PM by eks https://ift.tt/2NOHBGH
