A senior German official sought to ensure that the European Investment Bank's (EIB) aim to end fossil fuel funding would not undermine energy security, leaked records of a private meeting showed
MOSCOW (Pakistan Point News / Sputnik - 13th November, 2019) A senior German official sought to ensure that the European Investment Bank's (EIB) aim to end fossil fuel funding would not undermine energy security, leaked records of a private meeting showed.Greenpeace's Unearthed whistleblower project claims that Germany has been trying to block EIB's efforts to shift billion-euro funding away from fossil fuel and to renewables.
It found that Sarah Ryglewski, a state secretary for finance in parliament, said at a private committee meeting in September that Berlin needed "to clarify how a broad exclusion of the promotion of fossil fuels could be reconciled with the energy policy objectives of the EU."
The EIB has been seeking approval of 28 member states of a plan that would see fossil fuel funding ended by 2021. EU finance ministers agreed to the objective, but a final decision to pursue it is still to be made. The bank's board will meet to discuss it on Thursday.
Ryglewski argued that gas would continue to be needed to supplement the supply of renewables, according to documents seen by Unearthed. She added that the bloc would have to rely on gas for at least the next two decades.
EIB President Werner Hoyer admitted on Monday that the union was divided over the funding phaseout. According to the leak, Ryglewski identified Spain, Italy and Eastern European countries as opponents of the green shift, while France and Scandinavians were in favor.
