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Danish state fund drops black energy investments

As of 2020, Danish state development fund IFU will stop supporting projects solely based on fossil energy. Domestic power plant developer BWSC warns against the measure, which it says is in violation of the Paris Climate Accord.

Photo: Jacob Ehrbahn

From 2020, Danish state-owned development fund Investeringsfonden for Udviklingslande (IFU) will essentially no longer provide aid for fossil fuel-based projects in the Global South, the fund informs in a statement.

"In partnership with Danish pension companies, we have ... shown that investments in renewable energy in developing countries can be achieved on a commercial basis," says IFU Director Torben Huss the statement.

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