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TUG OF WAR/ FOSSIL FUELS VERSUS GREEN ENERGY AT THE EBR...

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Tug of War/ Fossil fuels versus green energy at the EBRD

44, pdf
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Tug of War/ Fossil fuels versus green energy at the EBRD



Publisher: CEE Bankwatch Network

Date: May, 2014

Volume: 44 pages, pdf

Description

The European Bank for Reconstruction and Development, founded in 1991, is mandated to promote market economies in countries of the former Eastern Bloc and at the same time, environmental sustainability in all its activities. A very significant part of this work necessarily involves using its investments to tackle climate change. 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. 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.