EcoExperts Praise Banks Decision To Stop Funding Coal Plants

RENEWABLE energy experts, The Eco Experts, have praised the European Investment Bank’s decision to stop financing coal-fired power stations.

The online solar panel comparison site welcomed the news that the EU’s bank was acting to try and help the EU meet is low carbon goals.

The bank will stop lending to projects that emit the highest levels of carbon dioxide, and will only offer funding to coal-fired power stations if they emit less than 550 grams of carbon dioxide per kilowatt-hour (gCO2/kW).

A spokesperson from said: “We really welcome this move by the EIB and the previous move by the World Bank to stop funding high carbon emitting coal power stations. We all need to work together to ensure our future is as green and sustainable as it can be.

“Here in the UK, the green sector defeated all national trends and grew 5% between 2011 and 2012, with more support for the low carbon sector we can see continued economic growth and job creation.”

However not all green groups are happy and feel more needs to be done, and would like to see the EIB phase out all support for fossil-fuel burning power stations.

However a spokesperson from the EIB said: “"Prioritising lending to energy efficiency, renewable energy, energy networks and energy RDI projects will help EU to meet its energy and climate objectives and create local employment across Europe.

“The new emissions performance standard will ensure that outside these sectors the Bank's energy lending makes a sustainable and positive contribution to economic growth."

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