Economics
Brexit May Lose U.K. Billions in Funding for Climate, Renewables
- EIB green funding at risk if U.K. votes to leave bloc
- U.K. is biggest recipient of EIB Climate Awareness bonds
Brexit: Will London Remain Center of Finance?
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The U.K. risks losing out on billions of pounds of investment in renewable energy projects such as wind farms and grid upgrades if it quits the European Union and ditches its stake in the European Investment Bank.
Britain is the biggest recipient of the EIB’s Climate Awareness Bond Project, taking 24 percent of the 7.2 billion euros ($7.9 billion) invested by the Luxembourg-based development bank in renewable energy and energy efficiency projects around the world since 2007, according to the EIB.