News in cooperation with eceee.org

The European Investment Bank must go further to truly become a ‘climate bank’

(Climate Home News, 28 May 2020) Warnings of an economic downturn in the aftermath of the Covid-19 pandemic have prompted some to argue it is time to abandon the European Green Deal.

Yet the crisis has made it even clearer that the EU needs to marshall its resources and accelerate investments in a post-carbon society if it is to weather the cononavirus crisis, and be able to address the far graver ecological breakdown and the climate crisis.

The European Investment Bank (EIB) stands to be a key protagonist in this transformative moment – if it embraces the reforms necessary to align itself with the Paris Agreement.

In fact, in parallel to the EIB’s responding to the Covid-19 emergency, the bank is already in the process of shapeshifting into ‘the EU climate bank’.

It has gradually been raising the bar on its commitment to climate action over the past few years and is nowadays in the midst of public consultations on its Climate Bank Roadmap 2021-2025.

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Climate Home News, 28 May 2020: The European Investment Bank must go further to truly become a ‘climate bank’