Client Earth criticises development banks’ lending policies

11 July 2013  | Power Engineering International

A top environmental law agency has applauded European Commissioner for Climate Policy Connie Hedegaard for her stance on development banks’ lending practices to fossil fuel power generators.

Hedegaard applies pressure to development banks

10 July 2013  | Power Engineering International

The momentum towards a world, or a Europe at least, where renewable power dominates was added to this week, when Connie Hedegaard said development banks ought to take “a lead role in eliminating public support for fossil fuels.”

EU climate commissioner calls for development banks to cut ties with fossil fuels

10 July 2013  | Blue and Green Tomorrow

The EU’s commissioner for climate change has urged three large development banks to stop investing in fossil fuels and to instead promote renewable energy in the western Balkans.

Storebrand ditches fossil fuel assets in pursuit of ‘long term, stable returns’

8 July 2013  | Business Green

Major victory for global divestment campaign as Nordic investment giant excludes 19 fossil fuel companies from its portfolio

Hedegaard urges development banks to divest from fossil fuels

8 July 2013  | EurActiv

Climate Commissioner Connie Hedegaard has called for development banks with a combined annual lending pot of €130 billion to end support for fossil fuels in their energy lending policy reviews.

EIB cleans up its energy lending policy

4 July 2013  | Energypost.eu

The European Investment Bank (EIB) intends to place stricter CO2 emission standards on coal power plants that it finances, but not as strict as the standards president Obama recently proposed in the US. The EIB is also considering investing in shale gas projects, according to a draft of its new energy lending policy. NGOs accuse the EIB of a “missed opportunity to politically reject coal”. With the EBRD and World Bank also mulling new investment criteria, the battle to “green up” Big Energy Money is heating up.