High time for climate action

Climate change is a major threat to sustainable developmentacross the world. It has become an issue that does not merely concern scientists and experts, but is now present in our daily lives. Fighting climate change begins with the choices we make by buying energy-saving products or preferring public transport to our beloved car.

For the European Investment Bank climate action is a top priority. In 2009 alone, the Bank increased its lending for climate action by 73%. 20% of all lending already goes to climate action projects and the target is 25% by 2012. Projects are evaluated to ensure compliance with EU and international climate policy best practice. CO2 emissions are reduced by helping both public and private sector promoters to prepare and finance low-carbon projects. The Bank has also started to calculate the carbon footprint of EIB projects, using a methodology developed in a pilot trial.

The Bank’s strategy is in line with the ‘green growth’ objective at the core of the Europe 2020 strategy and the post-Copenhagen climate action needs.