Jonathan Taylor, Vice-President of the European Investment Bank will today highlight the importance and benefits of climate focused sustainable investment by companies during discussion with business leaders in Shanghai. The European Investment Bank is the world’s largest international public bank and one of the largest financiers of climate related investment worldwide.

Whilst in Shanghai the European Investment Bank delegation will highlight how new investment in energy efficiency, renewable energy, water management and waste treatment can help reduce carbon emissions, tackle environmental problems and contribute to a sustainable economy.

”Companies and investors around the world play a leading role tackling climate change. Investment in low-carbon energy, agricultural innovation, and increased energy efficiency helps companies grow and reduces emissions. Companies based in China are demonstrating visionary leadership in ensuring that long-term planning includes support for climate related investment. The European Investment Bank is committed to increasing support for climate related investment across China and today’s discussions with world-class companies present in Shanghai will allow best-practice, innovation and first-hand experience to be shared. I am grateful for the European Chamber for helping to ensure that environment and energy are at the heart of business and look forward to hearing about how companies are already investing to reduce energy use and improve environmental protection.” said Jonathan Taylor, European Investment Bank Vice President.

“Tackling climate change is not possible without the support and involvement of business. Today’s visit of the European Investment Bank, with renowned experience of supporting climate investment around the world, will ensure that companies in Shanghai can strengthen sustainable investment in the years to come”, said Mick Adams, Chairman of the European Chamber’s Shanghai Chapter.

The European Chamber will host a working session focused on environmental and energy investment with the European Investment Bank delegation prior to discussions with Shanghai business leaders and representatives of international companies in the city.

Earlier this week the European Investment Bank, Europe’s long-term lending institution, confirmed EUR 298 million (2.2 billion CNY) was provided to support investment in new environmental, energy efficiency and forestry projects across China last year.

New cooperation between the European Investment Bank and the People’s Bank of China to mobilise greater support for green finance from institutional investors was also announced in Beijing.

The European Investment Bank also confirmed a strong pipeline of new climate related projects across China, including urban transport, forestry and energy efficiency that are currently under examination and expected to be financed in the coming months.

During the visit the European Investment bank delegation will discuss ongoing and new initiatives to strengthen support for climate related investment with Ministers and senior officials at the Ministry of Finance, China’s Vice Minister of Finance, the National Development and Reform Commission, New Development Bank, People’s Bank of China and regional representatives from Hainan and Shenzhen.

The European Investment Bank has financed projects in China since 1995 and last year the European Investment Bank Group provided EUR 84 billion to finance new investment around the world, including EUR 19.6 billion for climate related investment.