The European Investment Bank Promoting Climate Action

The European Union (EU) and its long-term financing institution, the European Investment Bank (EIB), have made climate change mitigation and adaptation a top policy priority. The EIB supports the EU’s goal of low-carbon and climate- resilient growth within and outside the Union. The EIB’s financing in these sectors is one of the largest among international financial institutions: in 2011, the Bank invested almost EUR 18bn in climate action. The EIB’s target for climate action is 25% of overall lending per annum, but in 2011 climate action already accounted for roughly a third of total lending.