Yesterday, the government of Norway and the European Commission released a joint statement on energy cooperation in which the EU officially supported “continued [oil and gas] exploration”.
Today the Council of the European Union will approve a statement that commits all Member States to end international public finance in the form of export credits for projects in the fossil fuel energy sector.
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.