Description
This review summarises the EIB Group’s progress in delivering on its Climate Bank Roadmap 2021-2025. The Roadmap lays out how the EU bank would support the European Green Deal and a just transition to low-carbon, climate-resilient and environmentally sustainable development. In taking stock of progress so far, this review highlights the EIB Group’s deep commitment to climate action and environmental sustainability, even in the face of geopolitical challenges such as the Russian invasion of Ukraine and its impact on world energy markets.
The Roadmap committed the EIB Group to support €1 trillion of green investment in the decade to 2030 and to align all its new operations with the Paris Agreement. In addition, the European Investment Bank committed to devote more than 50% of its financing to climate action and environmental sustainability by 2025. The Bank is on track to meet all these targets – notably, green financing reached 58% of all investment in 2022, three years ahead of target.
Halfway through the implementation of the Roadmap, this review shows that: the Group has met its commitment to align new operations with the Paris Agreement; EIB delivery of green financing at over 50% is ahead of schedule; and we are on track to support €1 trillion of green investment by 2030. While adjusting its approach in response to scientific, regulatory and market developments since 2020, a key conclusion of this review is that the Climate Bank Roadmap remains fit-for-purpose and will continue to provide the operational framework for delivery of the green ambitions of the EU climate bank through 2025.
The EIB Group Climate Bank Roadmap 2021-2025
Our new global plan to tackle the urgent climate challenges over the next critical decade.
