European Parliament asks Member states to end ECA support for fossil fuel projects

(European Parliament, Brussels, 28 November 2019) The European Parliament resolution of 28 November 2019 on the 2019 UN Climate Change Conference in Madrid stresses that the EU’s budget should be consistent with its international commitments on sustainable development and its mid- and long-term climate and energy targets. Article 54 welcomes the decision taken by the EIB to end financing for most fossil fuel energy projects from the end of 2021 and specifically asks "the Member States to apply the same principle when it comes to export credit guarantees."