This archive report was first published on 28 November 2019.
On November 28, 2019, the European Union urged the Kenyan government to prioritize renewable energy sources, following the European Investment Bank's (EIB) decision to stop financing fossil fuel projects. The bank had invested two billion euros (Sh225 billion) in 2018 to reduce the impact of fossil fuels on the environment.
EU Ambassador to Kenya Simon Mordue backed the decision, stating that it aligns with the commitment to the Paris Agreement on climate change. 'Renewable energy is the future. We will no longer finance fossil fuel and this is the right way to go,' he said.
The decision follows a similar move by the African Development Bank (AfDB), which has also stopped financing coal projects. AfDB had been in discussions with Kenya to finance the construction of the Lamu coal power plant, but the decision will see Amu Power, the promoters of the plant, go back to the drawing board.
The coal plant, expected to generate 1,050 megawatts for the national grid, has faced criticism from climate activists, who claim it will have harmful and irreversible effects on the ecosystem of Lamu County.
EU Ambassador Mordue regretted that Kenya is suffering from the effects of climate change, including drought and landslides that have led to destruction of property and livestock, hunger, injuries, and deaths. 'We have visited parts of this country, such as Marsabit, Turkana, West Pokot, and it is escalating. I am absolutely delighted that the bank has banned the fossil fuel financing,' he said.
Developed nations under the G20 have been accused of contributing 80 per cent of emissions, making the mitigation of climate change vital. The EU aims to be completely neutral by 2050 and spur economic opportunities.
