27/02/2020 (Agence Europe) – In a letter published on Tuesday 25 February, twelve civil society organisations called on the President of the European Investment Bank (EIB), Werner Hoyer, to honour his promise to stop financing fossil fuels (see EUROPE 12370/11). These organisations are particularly concerned that the EIB is using three exceptions included in its new lending strategy to continue financing fossil fuels (see EUROPE 12406/7). According to them, the EIB is still authorised to: (1) approve, by the end of 2021, projects - including fossil projects - on the fourth list of Projects of Common Interest (PCIs); (2) finance gas infrastructure that could potentially transport non-fossil gas; (3) support projects that emit less than 250 grams of CO2 per kWh over their lifetime. For the signatories of the letter, these exceptions represent loopholes in the EIB’s commitment to stop supporting fossil fuels. They are therefore calling on the bank not to use them, but to stick to the spirit of its new policy. See the letter: http://bit.ly/383qdoy (DG)