19 January, Luxembourg – The European Investment Bank has announced a public consultation on its approach to supporting climate action, with the aim of announcing a new strategy before the United Nations Climate Change Conference (COP21), to be held in Paris in December 2015.
At present, the EIB aims to provide at least 25% if its €72bn of annual lending to climate action projects. Over the past five years, investment has totalled €88bn, making the EIB the world’s largest climate investor.
The consultation explores issues such as the EIB’s climate due diligence, assessment tools, processes and procedures, the design and management of specific financial products, and Corporate Social Responsibility. The bank is also investigating how to improve the climate resilience of its projects in other areas, and on the best way to help energy and resource intensive industries to invest in more sustainable industrial practices.
The EIB Consultation is open until 16 March. To find out more, see the EIB website.