Lawyers warn fossil fuel companies should factor the potential payback of illegal subsidies into the “vast portfolio of risks” they face.
- It’s not just Apple – EU investigates fossil fuel tax breaks
- Spanish coal plants must pay back €400m in unlawful State aid, environmental lawyers insist
Energy giant ENEL’s conflicting climate policies have come under fire at its AGM but the group is still refusing to give investors any certainty about the future, despite the rapid decline of coal in Europe.
Coal plants must pay back €400 million in unlawful subsidies from Spanish government, environmental lawyers insist
Environmental lawyers are supporting the European Commission’s investigation into coal operators in Spain to decide whether they have to pay back millions in subsidies to the Spanish government.
Lawyers point out fundamental flaws in EU rules that mean it can approve ‘badly disguised coal subsidies’.
As coal runs at a loss, power companies are running out of excuses to invest in it. A new report by Carbon Tracker charts a route to minimising the impact to shareholders as coal loses out to cheaper, cleaner ways of making and using energy.