EU countries want oil exploration to be classed as a green investment
a day ago
- #EU climate policy
- #sustainable finance
- #fossil fuels
- EU governments verbally support the fossil fuel phase-out but continue facilitating green investments in companies building new fossil fuel projects.
- A new EU deal allows private investments for green activities to fund companies involved in both renewable projects and new oil and gas infrastructure.
- Major oil and gas firms investing in renewables or carbon capture can remain in sustainable investment funds despite ongoing fossil fuel expansion.