Majalat
Southern Neighbourhood
European countries
Climate and social justice

From 2021, the European Investment Bank (EIB) will no longer finance any climate-damaging projects under the institution’s new climate roadmap, which was approved on Friday 11 November 2020.

In an interview with Les Echos, EIB Vice-President Ambroise Fayolle explained that under this decision, 50% of the institution’s financing will go to climate projects by 2025. Describing the decision as historic, Ambroise Fayolle stressed that the other ambition is to invest, by 2030, a thousand billion euros in environmentally friendly activities to align with the objectives of the Paris Agreement.

Among other things, the new rules of the EIB’s climate roadmap state that no activity of the institution must significantly affect the objectives of the Paris Agreement.