Europe’s banks put 55 billion euros into oil and gas production – energy market

If the world is to reach net-zero emissions by mid-century, swift action is needed. Get out of investments in oil, gas and coal supply projects – that’s on the agenda of many fund houses and banks that act as investors or lenders. The International Energy Agency (IEA) also recently clearly pointed out that no new funds should flow into such projects. It is said that without curbing fossil fuels, the goal of the Paris climate agreement cannot be achieved.