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EU Council Lets Oil Expansion Qualify For Sustainable Funds
04 Jul 2026 | Abstracted from Forbes
The EU Council revised its Sustainable Finance Disclosure Regulation (SFDR), removing a ban on fossil fuel expansion in transition funds. Companies expanding oil and gas projects can now qualify for "sustainable" labels if at least 20% of their spending goes toward green initiatives. Critics warn the proposal ignores massive Scope 3 emissions, enables greenwashing, and threatens to erode trust in European green funds.
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