EU could waste €29bn on gas projects despite climate action plan
by Jillian Ambrose from on (#4Y4Z5)
32 schemes eligible for funding despite being unnecessary under move from fossil fuels
The European Union risks wasting a29bn (25bn) of taxpayers' money by overinvesting in gas projects which will be unnecessary under Europe's climate action plans, according to a report.
The European Investment Bank vowed late last year to end its support for fossil fuels within the next two years to become the world's first "climate bank", but 32 gas projects are still eligible for funding before the crackdown.
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