Together on climate

As one of the world’s biggest providers of climate finance, we work closely with the other multilateral development banks (MDBs) and the members of the International Development Finance Club to harmonise concepts and approaches.

During COP 26, the EIB Group launched new initiatives under its Climate Bank Roadmap, to support adaptation projects and engage with clients to help them align to the goals of the Paris Agreement. In addition, the EIB joined partner organisations and countries in calls to step up ambition on climate action.

Sustainable energy for one billion people by 2030

Today 800 million people lack access to electricity, including half the population of sub-Saharan Africa. Another 2.8 billion people lack access to electricity that is reliable enough to secure their livelihoods or power modern healthcare facilities and schools. The pandemic has only exacerbated the inequality of global energy access.

To tackle this challenge, the Rockefeller Foundation and the EIB have announced a global coalition to provide sustainable energy for one billion people within this decade. Development finance, global energy and multilateral agencies commit under this global coalition to accelerate electrification as the cornerstone of an equitable, global economic recovery.
We have also partnered with the United Nations and other partners for a global energy roadmap outlining concrete actions to achieve clean, affordable energy for all by 2030 and net-zero emissions by 2050. We are-co-leading together with key partners the technical report on Finance and investment. Find out more about this collaboration

Other key examples of our work in this area are our leadership of the working group which established the Green Bond Principles and our contribution to developing a harmonised framework for impact reporting on projects to which Green Bond proceeds have been allocated.

The City Climate Finance Gap Fund

The Gap Fund paves the way for cities to deliver ambitious infrastructure development for low-carbon, resilient and livable cities. It provides technical assistance for early-stage planning and project preparation. It unlocks a pipeline of financially viable urban investments that contribute to local transformation, global climate goals and green recovery. The Gap Fund was announced at the United Nations Climate Action Summit 2019 and was launched in September 2020. Since its operational launch, it has approved technical assistance for 33 cities, turning their climate ambitions into finance-ready projects. It is funded by Germany and Luxembourg and implemented by the European Investment Bank and the World Bank.

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We are also a member of the European Financing Institutions Working Group on Climate Change Adaptation and a partner in the Climate and Clean Air Coalition to Reduce Short-Lived Climate Pollutants and the Climate Bonds Initiative.

Our collaboration with partner institutions also remains focused on mainstreaming climate considerations into everything we do. Public and private financial institutions all over the world are supporting five voluntary Climate Mainstreaming Principles, putting climate at the heart of all we do.

Global Climate City Challenge

The Global Climate City Challenge is a joint initiative of the European Investment Bank (EIB) and the Global Covenant of Mayors (GCoM), representing over 9 000 cities from six continents, to provide technical assistance that helps prepare and fast-track financing of urban climate action projects.

Project proposals ranged from e-mobility, waste to energy, urban greening, resilience and climate adaptation measures, and the five winning cities were announced at COP25 in Madrid.

Together on climate

Sustainable energy for one billion people by 2030

The City Climate Finance Gap Fund

Global Climate City Challenge

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