Claim: $300 billion x 4 “Far Short” of Required Investment in Renewables

Watts Up With That?

Trans Adriatic Gas Pipeline Map Trans Adriatic Gas Pipeline Map. By Genti77 (Own workbased on [.. Template/Data-Source? ..]) [CC BY-SA 3.0], via Wikimedia Commons

Guest essay by Eric Worrall

Why does the EU want to loan €1.5 billion for a new gas pipeline, when they should be topping up the utterly inadequate global investment of US $300 billion / year for the last four years into renewables?

The EU wants to fight climate change – so why is it spending billions on a gas pipeline?

February 10, 2018 4.03am AEDT
Aled Jones
Professor & Director, Global Sustainability Institute, Anglia Ruskin University

Over the past few years there has been exponential growth in clean energy investment – while fossil fuel assets are increasingly considered to be risky. Yet, on February 6, the European Investment Bank, the EU’s long-term lending institution, voted to provide a €1.5 billion loan to the controversial Trans Adriatic Pipeline…

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