EIB is going to unlock 1 trillion investment in energy efficiency, clean energy and green innovation projects from 2021 to 2030

The European Reliable Bank (EIB) is planning to end its financing of oil, gas and coal projects after 2021.

At the same time, the EIB is going to unlock 1 trillion investment in energy efficiency, clean energy and green innovation projects from 2021 to 2030.

In addition, the EIB will gradually increase the share of its financing dedicated to climate action and environmental sustainability to reach 50% of its operations in 2025.

It is foreseen by the EIB's new ambitious strategy, which prioritizes climate action and energy decarbonisation.

Since 2013, the EIB has funded €13.4bn of fossil fuel projects. Last year it funded about €2bn of projects.

At the same time, in 2013-2018, the Bank allocated € 28 billion for renewable energy projects.

It is also important is that the EIB is the world's largest issuer of "green" bonds.

In summer this year the SAEE Head Sergiy Savchuk had the honor to discuss with the Head of the EIB Resident Representation for Ukraine Jean-Erik de Zagon the potential of green bonds market in Ukraine.

More interesting information is here: https://www.theguardian.com/environment/2019/nov/15/european-investment-bank-to-phase-out-fossil-fuels-financing