Categories for Press releases

Emissions Trap: Financial Institutions Still Feeding The Gas Industry

April 5, 2023 11:59 am Published by

5 April 2023 - While Europe needs to decarbonize electricity production by 2035 to limit warming to 1.5°C, a new report finds that banks and investors have provided billions of dollars in support to the gas power industry since 2019 [1]. The report’s authors, including Reclaim Finance and Beyond Fossil Fuels, call on financial institutions to restrict support for gas power in Europe to avoid locking-in carbon emissions on a huge scale, and increasing the level of stranded assets by 2035.

New Europe-wide campaign shows path to renewables-based power system by 2035

March 28, 2023 9:30 am Published by

Today, more than forty civil society organisations from across Europe are embarking on a mission to ensure governments, businesses, and financial institutions eliminate fossil fuels from the continent's power sector by 2035, replacing them with renewable energy sources and energy savings. The Beyond Fossil Fuels (BFF) campaign expands the hugely successful Europe Beyond Coal coalition, which has seen 23 European countries committing to coal exits, 17 of which will happen by 2030 at the latest.

Flawed Turów coal mine assessment gets green light

October 10, 2022 3:07 pm Published by

Poland’s General Director for Environmental Protection waved through an Environmental Impact Assessment (EIA) for the country’s Turów coal mine this past Friday, despite expert analysis showing the EIA severely underestimates the amount of groundwater the mine is draining.

RWE concedes 2030 coal exit, but still plans to destroy villages and to invest in fossil fuel projects

October 4, 2022 4:37 pm Published by

German utility RWE has conceded that it will exit coal by 2030, eight years earlier than previously planned, further confirming Germany’s 2030 coal exit. However, the agreement struck with the federal, and state government for North Rhine-Westphalia will still see RWE destroy the village of Lützerath and commit it to fossil gas investments.