Today at the Global Finance Action Summit in Marrakech, the European Investment Bank’s Vice-President, Jonathan Taylor with responsibility for energy, environment and climate lending called for a renewed effort from the world’s financial institutions to make the Paris Agreement a reality.
Also attending the summit on the margins of the Marrakech Climate Conference were COP22 President H.E. Salaheddine Mezouar, Moroccan Minister of Foreign Affairs and Naoko Ishii, CEO of Global Environment Facility.
Vice-President Taylor told the summit:
“In shifting trillions of dollars into green investments, it is crucial that investors can put their money directly into green, climate-smart projects. Public banks such as mine – the Bank of the EU - have a key role to play, in developing products and instruments that encourage and maintain private capital flows to climate-friendly projects. And that’s what we do and how we expect to make the Paris agreement a reality. The EIB is taking away risks that are holding the private investors back from putting their money into climate action.”
You can find the full speech here
More information:
The EIB is active in 160 countries around the world. As the biggest multilateral climate financier, the EIB provides long-term financing for sound, sustainable investment projects in support of EU policy goals in Europe and beyond. The EIB is owned by the EU’s 28 member states.
The EIB is the world’s largest multilateral financer of climate-related projects. Last year around 27% of all lending went towards climate action. The Bank is committed to raising the proportion of climate investment in developing countries to 35% of its overall lending in these countries by 2020, and placing a greater emphasis on helping regions in the frontline of climate change to adapt.
Photographer: EIB ©To be defined
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