Posted on 11/14/2019 2:45:24 PM PST by Olog-hai
The European Investment Bank said Thursday that it will stop financing fossil fuel energy projects from the end of 2021 as part of an effort to fight climate change.
The decision, which ends fossil fuel funding a year later than initially proposed, follows lengthy negotiations among European Union member states, the bank’s shareholders.
“We will stop financing fossil fuels and we will launch the most ambitious climate investment strategy of any public financial institution anywhere,” the EIB’s president, Werner Hoyer, said in a statement.
Calling climate “the top issue on the political agenda of our time,” Hoyer noted scientists’ warnings that the planet is heading for a 3-4 degrees Celsius (5.4°-7.2° Fahrenheit) increase in global average temperature by the end of the century.
“If that happens, large portions of our planet will become uninhabitable, with disastrous consequences for people around the world,” he said. …
(Excerpt) Read more at apnews.com ...
Insane people.
The Oil Companies should help them out and STOP Selling petroleum products to Europe altogether, TODAY!!!
They are going to freeze in the dark.
And then pay Russia insane amounts of money for importing thier gas and oil.
That’ll leave a mark.................................
Wow these people are brainwashed. They will regret this. Other banks will more than happy to step in.
Looks like a great business opportunity for someone outside the EU.
First they allowed themselves to be disarmed so the government can now control them, their socialized governments squandered and pillaged the countries funds and convinced them that the EU will be their when they fail, they allowed their politicians to flood the countries with invaders that don’t assimilate, and now they put a noose around their necks, sliced their wrists and set themselves on fire, no fossil fuels. Why not just ask China Russia or Iran to come in and take over
The EU bank is close to shattering.
They go down, the aftermath won’t be pretty.
But US banks can make out on this if they were smart.
Fools. Someone will finance them and will make money.
HOnestly, this climate nonsense is worse than Tulip mania,
or the South Seas bubble!
Decide to walk ten miles to work. Or twenty. Or thirty.
Chicoms most likely. And they’ll want an equity position in the project.
I’d say good news for their competitors but every bank is actually owned by one bank anyway.
Let’em freeze in the dark!
Great - big energy companies have time to shift their banking partners
Why wait for two years?
Let me predict that American banks will step in to fill the void. Stupid Europeans.
More for us unless, of course, our banks start buying into this suicidal insanity.
Good.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.