350 | Divest EBRD from Fossil Fuels!

The European Bank for Reconstruction and Development, one of the world's largest development banks, recently published a draft of its future energy strategy. A central theme of the strategy is transitioning to less carbon-intensive energy sources, yet the EBRD fails to establish realistic and measurable policies to facilitate that transition. Under the Bank's draft strategy, lending for fossil fuel projects—including dirty coal and fracking—as well as large-scale hydropower, will continue (albeit with some additional restrictions).

The EBRD is seeking public comments between now and September, after which it will redraft the strategy for the board to approve. Now is the time to make ourselves heard. Will you sign on and tell the EBRD it's time to end support for dirty fossil fuels?

The climate is changing before our eyes. Almost every government in the world has agreed that any warming above a 2°C (3.6°F) rise would be unsafe, risking catastrophic feedback cycles and a planet potentially incompatible with human civilization. If we are are to keep climate change below 2°, we must keep 80% of known fossil fuel reserves under ground.

Read more...

To the Board of Directors of EBRD:

The transition to an energy-efficient, renewables-based economy should be a top priority for governments and financial institutions, and the lending power of the EBRD could be a powerful force in that transition. We demand a new energy strategy that eliminates support for fossil fuels, starting with coal, and sets an emissions performance standard of no more than 350 gCO2/kWh.




Add a personal comment +

Signed,

 
Recent Action Takers:
George Thrupp 6 years ago United Kingdom
Kurt 7 years ago Philippines
Inolaodan 7 years ago Yemen