August 2021, Vol. 248, No. 8

Global News

Global News August 2021

European Bank Halts Upstream Investments, Maintains Midstream   The European Bank for Reconstruction and Development (EBRD) said it will stop investing in upstream oil and gas projects as part of plans to align its activities with the goals of the Paris Agreement on climate change by the end of 2022.   The lender’s board of governors approved the decision to align with the Paris accord during a meeting on its 30th anniversary. EBRD Managing Director Harry Boyd-Carpenter said this meant the bank was ceasing investment in oil and gas exploration and production.   “We will no longer invest in upstream oil and gas projects,” Boyd-Carpenter said, though did not specif

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