EU agrees its green transition fund will not support natural gas
The European Union’s flagship fund to wean regions off fossil fuels will not finance natural gas projects, EU governments said on Wednesday (16 December), ending a debate over whether to make the fuel eligible for support.
Gas emits roughly 50% less CO2 than coal when burned in power plants, but it is associated with leaks of methane, a potent greenhouse gas.
Envoys from the EU’s 27 member countries endorsed the deal on Wednesday, which was struck between EU governments and the European Parliament last week.
Under the deal, the fund cannot be used to support any investments linked to fossil fuels, including natural gas. The Just Transition Fund will not back investments in nuclear energy either.
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