European Investment Bank Boosts Support for Decarbonisation Projects Across the World

Strategic Insights -

The European Investment Bank (EIB) is set to enhance its support for decarbonisation projects globally, with a focus on clean energy financing. The bank will present a framework to support environmental sustainability projects and unveil new partnerships to finance climate action initiatives. At the United Nations Climate Change Conference (COP27), the EIB Group will stress the urgency of mobilizing massive resources for global warming mitigation and adaptation, reaffirming its commitment to deploying its full range of financial tools in support of the swift decarbonisation of economies.

Key Takeaways:

  • The EIB will provide an additional €30 billion in loans and equity financing over the next five years to support the REPowerEU Plan, aiming to mobilise up to €115 billion of new investment by 2027.
  • The bank will expand its range of financing tools for projects aimed at supporting a just transition to a climate-neutral economy across the world.
  • The EIB will launch its environment framework to support environmental sustainability projects globally, focusing on a green, resilient, equitable, and inclusive development approach.
  • The bank will pledge to support adaptation actions addressing the needs of vulnerable population groups and expedite the shift towards a more circular world.
  • The EIB will work with partners to announce new green financing projects and initiatives, including those targeting regions with carbon-intensive production and socioeconomic fragility.

Statistics:

  • €30 billion: The additional amount in loans and equity financing provided by the EIB over the next five years to support the REPowerEU Plan.
  • €115 billion: The estimated amount of new investment mobilised by the EIB's additional €30 billion by 2027.
  • 2030: The target year for halving global emissions, as per the Paris goals.
  • 2030: The year by which the EIB aims to support €1 trillion of climate action and environmental sustainability investments.

Sources:

  • The EIB and COP27 conference website
  • European Investment Bank (EIB) Group, Climate Bank Roadmap
  • European Investment Bank (EIB), Press Release: "EIB Steps Up Support for Decarbonisation Projects Globally"