EIB Approves Climate Bank Roadmap Guiding €1 Trillion of Climate and Sustainability Investments
The European Investment Bank (EIB) Board of Directors announced today that it has approved the EIB Group Climate Bank Roadmap 2021-2025. The roadmap aims to guide future climate action financing by the EIB and European Investment Fund (EIF), supporting €1 trillion of climate and environmental sustainability investments by 2030, and to align all financing activities with the principles and goals of the Paris climate agreement by the end of 2020.
The approval of the roadmap follows the introduction by the EIB Board in November 2019 of its decision to increase the level of climate and environment commitment for the EIB Group, effectively transforming the group from being “an EU Bank supporting climate” into “The EU Climate Bank.” The roadmap sets out how the EIB Group intends to deliver on this expectation, outlining in detail how the it aims to support the European Green Deal and sustainable development outside the European Union.
Werner Hoyer, President of the European Investment Bank, said:
“The climate and environment emergency is claiming lives as we speak and we must face up to it urgently. Today we agreed the EIB Group Climate Bank Roadmap that details our € 1 trillion response to the climate emergency in the years ahead. It is a major contribution to Europe’s role leading the way toward decarbonisation and a green, resilient and socially inclusive economy.”