New Strategy
The board of the European Investment Bank (“EIB”)
has approved a new strategy for climate action and
environmental sustainability. This is the culmination of a review
process which involved industry, institutions, civil society, and
the public.
The most notable aspect of the strategy is that from the end of
2021 the EIB will no longer consider new financing for fossil fuel
energy projects, including gas. Future financing will concentrate
on clean energy innovation, efficiency and renewables.
Other key elements of the strategy are:
- Between 2021 to 2030 the EIB Group
will aim to support EUR 1 trillion of investments in climate action
and environmental sustainability.
