COVID-19, THE EIB FASTENS ITS TRANSFORMATION AS A CLIMATE BANK

Ambroise FAYOLLE * Vice-président, Banque européenne d'investissement (BEI).Contacts : g.chauviereledrian@eib.org ; a.terracol@eib.org.

At the end of 2019, the EIB announced its following ambitious commitments. First, the EIB will increase support for climate action and environmental sustainability to more than 50% of annual lending by 2025. Second, the EIB Group aims to support €1 trillion of green investment over the critical decade ahead. And the EIB Group will align all financing with the goals of the Paris Agreement by the end of 2020. For example, the EIB will stop financing unabated fossil fuel energy projects, including natural gas. Then in November this year, our Board unanimously approved our Climate Bank Roadmap. It is an important milestone in our transformation to become Europe’s fully fledged climate bank. The roadmap outlines how the EIB Group will support a green recovery from the Covid-19 crisis, back the European Green Deal and support the Sustainable Development Goals around the world.