Tug of War: Fossil Fuels vs. Green Energy at the EBRD
Publisher: CEE Bankwatch Network
Volume: 2 pages, pdf
Description:
Addressing the climate crisis by drastically reducing greenhouse gas emissions by 80 to 95 percent in developed countries and 50-70 percent globally is becoming ever more urgent. While developed countries need to take the lead on this, all EBRD countries of operations must make significant emissions reductions and as well develop their renewable energy and energy efficiency sectors to avoid becoming uncompetitive in these areas. International bodies such as the International Energy Agency are warning that carbon-based energy consumption is already to a large extent locked into existing infrastructure and that building new power plants, roads and industrial facilities dependent on fossil fuels risks completing this lock-in to such an extent that achieving the necessary emissions reductions will be impossible.