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European Investment Bank Will Not Finance Most Coal Power Stations

2013-07-24 17:30:00| Climate Ark Climate Change & Global Warming Newsfeed

Yale Environment 360: The European Investment Bank (EIB), the main lending arm of the European Union, has decided to stop financing most coal-fired power plants, part of an effort to help the 28-nation bloc meet ambitious greenhouse gas reduction targets by 2030. The EIB says that new and refurbished coal-fired power stations will be ineligible for funding unless they emit less than 550 grams of carbon dioxide per kilowatt hour, a standard that traditional coal power plants would be unable to meet. Power stations that...

Tags: power finance bank investment

Category:Electronics and Electrical

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