2019 Divestment Year In Review
$11 trillion in divestments! That’s the grand total movement away from fossil fuels as of end-of-year 2019.
$11 trillion in divestments! That’s the grand total movement away from fossil fuels as of end-of-year 2019.
Goldman Sachs has been garnering quite a lot of Twitter praises after the bank updated its “Environmental Policy Framework.” As per the changes, the firm has now pledged:
A draft proposal circulating through the boardroom of the European Investment Bank recommends terminating all further investments in fossil fuels effective 1/1/2021. The bank currently provides about $3 billion a year in financing for the fossil fuel industry.
The European Commission, the European Investment Bank, and Breakthrough Energy Ventures chaired by Bill Gates, announced Wednesday the establishment of a new €100 million fund to support clean energy investments in Europe.
The European Investment Bank and the Palestine Investment Fund announced on Friday a loan agreement worth $18 million to finance the installation of rooftop solar PV systems on 500 public schools in the West Bank.
Spanish banking giant CaixaBank is partnering with the European Investment Bank to launch its first credit line to finance climate action-focused projects.
Mexico’s phenomenal solar expansion over the last three years makes it one of the fastest growing solar nations on the planet. Much of this growth has been financed by a host of multilateral development banks, including several from the United States. Four of these banks have just committed to an 80 megawatt project in Chihuahua state being developed by Spain’s X-Elio.
A group of 15 leading international organizations, including six global development banks, announced on the sidelines of the COP24 UN climate change conference a joint commitment to make their operations climate neutral.
The bid that won a 50 megawatt solar plant award in Jordan for RAI Energy International was as low as it was only because the design was based on bifacial panels and on single axis trackers, says Mohammed S. Alrai, CEO of the San Jose-based company. At $0.0250 per kilowatt-hour, RAI secured second place among 30 bidders, edged out of first place by panel manufacturer Jinko, which bid $0.02488/kWh.
What is expected to be the world’s second floating offshore wind farm has received a financial boost from the European Union after the European Investment Bank announced its intention to provide a €60 million loan to Portuguese company Windplus for its planned 25 megawatt (MW) demonstration project off the coast of Portugal.