Today’s Solutions: June 21, 2025

After seeing a massive boost for climate action and sustainability from the world’s finance sector during this year’s UN Climate Summit, the EU’s financing department has recently taken it one step further by adopting a new, game-changing energy lending policy.

The European Investment Bank (EIB) – the world’s development bank – has recently announced that it will stop funding fossil fuel energy projects by the end of 2021, representing a major shift of public finance towards clean energy projects.

The bank’s new energy lending policy was approved with “overwhelming” support and will bar most fossil fuel projects, including those that employ the traditional use of natural gas. Under the new policy, energy projects applying for EIB funding will need to show they can produce one kilowatt-hour of energy while emitting less than 250g of carbon dioxide, a move that bans traditional gas-burning power plants.

The new policy represents a major win in the fight against climate change and sets a new bar for what it means for a multilateral bank to be aligned with the Paris Agreement.

Solutions News Source Print this article
More of Today's Solutions

How to perk up your plants with used coffee grounds

Coffee grounds are great for making DIY body scrubs, but did you know they can also help perk up your plants? Just like people, ...

Read More

3 Functional foods for all-day energy

You have a busy life, and now that the weather is nicer and Covid-19 restrictions are loosening up, you will likely find yourself with ...

Read More

Australia draws up plans for marine reserve the size of Germany

The Australian government intends to designate a marine reserve in the Southern Ocean the size of Germany, bolstering protections for millions of penguins and ...

Read More

Shopping cart handles are an unexpected ally in the fight against heart arrhy...

Liverpool John Moores University researchers fitted a device into the handles of shopping trolleys to monitor for atrial fibrillation (AF), a common heart arrhythmia ...

Read More