The best of EcoWatch, right in your inbox. Sign up for our email newsletter!
France’s Largest Bank Cuts Ties With Dirty Energy Companies
In a statement, France's largest bank said it would also stop financing shale and tar sands projects and oil and gas production or exploration projects in the Arctic. The global bank has previously committed to spending billions of euros on renewable energy financing and energy efficiency, and has ceased support for coal mines and coal-fired power plants.
"We're a long-standing partner to the energy sector and we're determined to support the transition to a more sustainable world," CEO Jean-Laurent Bonnafé said in a statement. "As an international bank, our role is to help drive the energy transition and contribute to the decarbonization of the economy."
As reported by Reuters:
"The bank previously said it planned to spend 15 billion euros ($17.72 billion) to finance renewable energy projects by 2020 and invest 100 million euros in start-ups specializing in energy storage and efficiency.
The lender has already stopped financing coal mines and coal-fired power plants, and no longer supports coal companies that are not planning to diversify their energy sources."
For a deeper dive:
EcoWatch Daily Newsletter
By Jeff Turrentine
From day to day, our public health infrastructure — the people and systems we've put in place to keep populations, as opposed to individuals, healthy — largely goes unnoticed. That's because when it's working well, its success takes the form of utter normalcy.
Cell Phone Tracking Analysis Shows Where Florida Springbreakers and New Yorkers Fleeing Coronavirus Went to Next
By Eoin Higgins
A viral video showing cell phone data collected by location accuracy company X-Mode from spring break partiers potentially spreading the coronavirus around the U.S. has brought up questions of digital privacy even as it shows convincingly the importance of staying home to defeat the disease.
The Environmental Protection Agency (EPA) issued a policy memo yesterday that is an expansive relaxation of legally mandated regulations on polluting industries, saying that industries may have trouble adhering to the regulations while they are short-staffed during the coronavirus global pandemic, according to the AP.