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France's BNP Paribas was the biggest European commercial investor in African fossil fuel projects between 2019 and 2022 (Photo: Can Pac Swire, Flickr)

EU and US banks fuelling climate 'hypocrisy' in Africa

As the 27th climate conference (COP27) takes place in Egypt, a new report came out on Tuesday (15 November) detailing how Western banks are financing a new wave of fossil-fuel expansion on the continent.

In it, French NGO Reclaim Finance and Urgewald, a Germany-based group, as well as 36 African civil society organisations identify the financiers and investors behind 200 oil and gas companies active in Africa.

Between January 2019 and July 2022, 325 commercial banks channelled o...

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Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

France's BNP Paribas was the biggest European commercial investor in African fossil fuel projects between 2019 and 2022 (Photo: Can Pac Swire, Flickr)

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Author Bio

Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.

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