EIB Increase Investment in Climate Projects

THE EUROPEAN Investment Bank (EIB) revealed this week that its 2010 climate-related projects financing totaled €19 billion, a rise from €16 billion in 2009.

Climate-related project lending makes up 30 percent of the Bank’s total 2010 investment, supporting over 460 large-scale projects.
The EIB dedicated over €8 billion for energy efficiency and renewable energy projects.

To qualify as ‘climate action projects’, schemes have to achieve stringent criteria in energy efficiency, CO2 reductions or sequestration.

The Bank’s investment in climate action projects outside of the EU were about €2 billion, with the bank promising an increase to around €4.5 billion, in its support for sustainable energy efficiency projects in these non-EU regions.

EIB president Philippe Maystadt said: “We have succeeded in our mission to support recovery in Europe by financing projects that stimulate growth, innovation and jobs, and we are very proud of our record volume on climate action projects.”

Picture by Zinneneke

Thursday 24th February 2011

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