European Bank For Reconstruction And Development Ends All Upstream Oil Financing

The European Bank for Reconstruction and Development (EBRD) will no longer invest in oil and gas exploration and production, the bank’s Managing Director Harry Boyd-Carpenter told Reuters as the institution pledged to align all its activities to the Paris Agreement goals from the end of next year. “We will no longer invest in upstream oil and gas projects,” Boyd-Carpenter told Reuters on Thursday. On the same day, the bank announced that its Board of Governors decided at the Annual Meeting 2021 to accelerate decarbonization across…