Saturday, February 15, 2020

EU votes billions of euros for fossil fuel infrastructure

Despite intense lobbying from climate activists, members of the European Parliament today voted to approve the Projects of Commons Interest (known as the PCI list) that will channel billions in EU funding into new fossil fuel infrastructure. 
Energy projects on the 4th PCI list are eligible to receive up to 50% of funding from the EU through the Connecting Europe Facility (CEF). Among the 151 projects included on the list, 55 new fossil gas projects have sparked the greatest backlash. 
"This decision could unleash €24 billion in finance for climate-wrecking pipelines and €1.7 billion for new LNG (liquified natural gas) terminals, which eclipses the €7.5 billion of new resources due to be raised to tackle the climate crisis through the EU's plans for a 'Green Deal,'" said Clemence Dubois, campaigner at climate group