European investment bank to stop financing coal-fired power plants

Posted by Gaby T, August 8, 2013

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New and refurbished coal-fired power plants will not be eligible for funding unless they emit less than 550 grams of carbon dioxide per kilowatt-hour (gCO2/kW), the EIB said on Wednesday, which could be met either by a combined heat and power plant or one that also burns biomass.

“Adoption of the new lending criteria represents an important step forward in the European Investment Bank’s commitment to energy investment that supports EU policy and reflects the urgent investment challenges currently facing the energy sector,” Mihai Tanasescu, EIB vice president responsible for energy lending, said in a statement.

The EU lender also said it could tighten the emissions standard in the future to ensure its lending criteria are consistent with EU climate policy and create jobs across Europe.

via July 24 News: European investment bank to stop financing coal-fired power plants | The Guardian

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