European Development Finance Institutions fall short on climate ambition by allowing continued financing for fossil gas

November 5, 2020By LaurieFeatured, News, Press Releases, Statement, Stop Funding Fossils No Comments

European Development Finance Institutions fall short on climate ambition by allowing continued financing for fossil gasToday, one week ahead of the Finance in Common Summit, the Association of European Development Finance Institutions (EDFI) announced joint ambitions for climate action. The institutions commit to full Paris alignment by 2022 and to end coal and fuel oil financing. For gas finance, they commit to “generally exclude [such finance] by 2030 at the latest”, but leave the room open to gas financing beyond 2030 in certain cases.