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Transcripts For BBCNEWS Business Briefing 20240713

Now, do we want our banks to continue financing fossil fuel projects such as Oil Exploration . Well, europes Climate Change credentials face an acid test today. Eu finance ministers will decide whether to back a plan by the blocs lending arm, the European Investment bank, the worlds biggest multilateral lender, to end loans to coal, oil and Gas Companies beyond next year. The decision comes against a backdrop of investors increasingly offloading their fossil fuel holdings, among them norways sovereign wealth fund, the Worlds Largest, which is dumping more than 13 billion of investments. But, despite millions of eu citizens joining climate strikes and rallies in recent weeks, the eibs plan is opposed by the European Commission and countries including germany, italy, poland and latvia. They want to keep funding gas projects to help the move away from coal to renewables. Germany is aiming to close its Nuclear Power plants by 2022, but doesnt plan to phase out coal Power Generation until 2

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