Today in Strasburg, the European Parliament lead committees have brought the European Fund for Strategic Investments (EFSI), also known as 'the Juncker investment plan', closer to compliance with the Paris Climate Agreement. However, they have once again fallen short of eliminating fossil fuel subsidies, which stand in the way of climate action.
At its 2017 Annual General Meeting on Monday 8 May, the biggest Dutch bank ING will face calls from European campaigners to end its financial support to companies building or planning new coal mines and coal-fired power plants.
Read more: Dutch bank ING: Campaigners to call for coal finance cuts at AGM
The G7 Energy Ministers will meet on 9-10 April in Rome. On the agenda, the decarbonization of our economy, including the phase out of fossil fuels and related subsidies will be discussed.
The G7 must urgently see the writing on the wall and stop pouring tax payers' money into fossil fuels, which is an economic dead-end and environmentally disastrous.
Health, environment and climate groups have welcomed the decision today by EU Member States of new air pollution standards (LCP BREF) which will force the coal industry to reduce their toxic fumes and save more than 20,000 lives every year (1).
Eurelectric, the association of European electricity producers announced yesterday that it did not “intend to invest in new-build coal-fired power plants after 2020” and declared its support for achieving the objectives of the Paris Agreement.
In reaction, Climate Action Network (CAN) Europe stresses that this statement is merely a starting point that needs to lead to a comprehensive plan for a full phase out of existing coal plants.
Read more: Eurelectric needs to commit to a rapid and full transition away from existing coal