Blogs

Media coverage on shifting financial flows and fossil fuel subsidies

 

Here we collect a sample of the media coverage of the topics shifting financial flows and fossil fuel subsidies. 

 

EU

December 2017 - January 2018

The Parliament Magazine (EU): EU must stop subsidising fossil-fuels infrastructure. “The European Fund for Strategic Investments is funding dozens of carbon-intensive projects, at the expense of genuinely sustainable infrastructure, argues Anna Roggenbuck.”

- The Guardian (United Kingdom): EU announces €9bn in funding for climate action. “EU funds will be focused on clean energy, and sustainable cities and agriculture, with Bill and Melinda Gates Foundation also pledging $300m towards climate adaptation.”

- Sun and Wind Energy (Germany): EU fails to eliminate fossil fuels from the Juncker Investment Plan. “Markus Trilling at Climate Action Network Europe, said: “We welcome the climate target for EFSI 2.0. But to be in compliance with the Paris Agreement, all EFSI projects have to be assessed against their long-term climate impacts.”

- Euractiv (EU): Room for hope at Macron’s One Planet Summit. “A number of initiatives targeting the global transition away from fossil fuels have been established over the last two years, and most recently at the international climate summit in Bonn.”

- ExecReview (United Kingdom): ‘Death spiral’: half of Europe’s coal plants are losing money. “Air pollution and climate change policies are pushing coal-fired electricity stations to the brink, says a new report. Closing them would avoid €22bn in losses by 2030.”

- Euractiv (EU): Europe is not fighting hard enough to keep out coal subsidies. “To prevent coal subsidies, the European Commission proposed a CO2 threshold for power plants to receive public subsidies. However, due to last minute edits from current EU President, Estonia, the door will be open for existing high-carbon power plants to receive public money to stay online, writes Kathrin Gutmann.”

- Windkraft (Germany): Estonia makes surprise push for coal subsidies. “The coal industry and those governments dragging their feet on climate actions love nothing more than the idea to use public money to keep dirty plants open for another few decades. This last minute change of heart from Estonia is indefensible and biased towards coal lobby interests,” said Joanna Flisowska, Coal Policy Coordinator with Climate Action Network (CAN) Europe.”

- Euractiv (EU): The Brief: EU goes Jekyll and Hyde on climate and energy. “How can the Commission call on the EIB to grant €2bn to a mega gas pipeline and then release a report urging the member states and the same bank to do more to reduce subsidies for fossil fuels?”

- Climate Home News (United Kingdom): EU commission urged bank to support Azerbaijan gas pipeline. “Loans to the pipeline from the EIB and EBRD would qualify as fossil fuel subsidies, said Shelagh Whitley, a leading researcher on the issue at the Overseas Development Institute.”

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