Hydrogen in the EIB’s reviewed energy lending policy
Advocacy letter | 28 June 2023
As the EIB reviews its Energy Lending Policy, Bankwatch and 33 other civil society groups, sent a joint letter o EIB Vice Presidents, to voice our concern about the over-emphasis on hydrogen which risks, among others, diverting renewable energy capacity – existing and planned – from the electricity grid and into the production of hydrogen for sectors that might not be playing a significant role in the energy transition.
To ensure hydrogen is not used as a lifeline to the fossil fuel industry, the groups urge the Bank to ensure it only supports hydrogen projects that rely on 100% renewables. The letter also calls on the Bank to develop a dedicated hydrogen strategy to help ensure that only priority sectors that are essential for a green future can benefit from EU public money.
Theme: Hydrogen |
Location: EU
Never miss an update
We expose the risks of international public finance and bring critical updates from the ground. We believe that the billions of public money should work for people and the environment.
STAY INFORMED
