November 8, 2019 / 3:17 PM / 5 days ago

EU urges EIB to halt funding of fossil fuels projects

BRUSSELS, Nov 8 (Reuters) - European Union finance ministers said on Friday the bloc should phase out its funding of oil, gas and coal projects, according to a joint statement which could mark a major shift in the EU’s climate policy.

The unprecedented move could lead to halting multi-billion-euro financing of fossil fuel projects by the European Investment Bank (EIB), the bloc’s financial arm. (Reporting by Francesco Guarascio @fraguarascio; Editing by Alison Williams)

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