Banks should 'abandon the project and instead inject financing into safe, sustainable, community-centered renewable energy solutions to foster a just transition away from fossil fuels in Africa,' said 350Africa's Charity Migwi. StopEACOP
that no decision had yet been made on financing the project."What you are hearing perhaps is directionally how personally I am leaning," she said, confirming that the bank is still seriously considering lending to EACOP despite sustained opposition to it.
"This pre-construction phase highlights the urgent need for Standard Bank to withdraw its support, as the project's continuation would only amplify these negative consequences, further jeopardizing the well-being of communities and the fragile ecosystem," #StopEACOP continued."The bank needs to recognize the alarming implications of EACOP and take a responsible stance to protect both people and the environment.
In addition to advising EACOP, Standard Bank has also provided $485 million in financing to Mozambique LNG in Cabo Delgado, a project led by TotalEnergies, and it has also so far refused to rule out funding Rovuma LNG, another fracked gas project in Mozambique. Diana Nabiruma of the Africa Institute for Energy Governance in Uganda rejected as"erroneous" Standard Bank's argument that its continued fossil fuel financing is meant"to promote economic development and address energy poverty."
France Dernières Nouvelles, France Actualités
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