European Investment Bank (EIB) President Werner Hoyer`s comments came after the COP27 Forests and Climate Leaders’ Summit in Sharm el-Sheikh. As chair of the Multilateral Development Banks (MDBs), he provided an update on the progress of the joint MDB Statement on Nature, People and Planet adopted at COP26 in Glasgow last year. Read the update here.
Speaking at COP27, EIB President Hoyer called on world leaders to remain focused on the threat to human society as a result of the accelerating irreversible loss of nature and biodiversity made worse by climate change and environmental degradation. At COP27, the EIB will also launch its new Environment Framework to better support environmental investments including for circular economy and biodiversity across the world.
EIB President Werner Hoyer commented: “From nature-based solutions to climate, health issues, food and water security, and sustainable livelihoods, biodiversity is the foundation that sustains us all. It is important that the progress made in development is not fatally undone by the interconnected crises of biodiversity and climate change. As well as this, the loss of nature is undermining the very asset that will help us effectively tackle the climate crisis. We must take urgent action to protect our forests and improve the state of our oceans - we live after all on the Blue Planet. We must bring the momentum we have built over the past decade in the fight against climate change to the nature and biodiversity restoration challenge and build public-private partnerships to scale up investments in nature positive projects.”
EIB at COP27
Find an overview of EIB at COP27 on our dedicated website. The EIB has a pavilion in the side event area of the Blue Zone and is running a series of events on numerous topics. You will find the full agenda here. You are welcome to join our virtual attendee hub to watch the sessions either live or later at your convenience, and network with attendees. With an easy two-step registration process, you will always have the latest information on our agenda.
Background information
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by the EU Member States. The EIB Group has adopted a Climate Bank Roadmap to deliver on its ambitious agenda to support €1 trillion of climate action and environmental sustainability investments in the decade to 2030 and to deliver more than 50% of EIB finance for climate action and environmental sustainability by 2025. As part of the roadmap, all new EIB Group operations have been aligned with the goals and principles of the Paris Agreement since the start of 2021.
EIB Global is the EIB Group’s new specialised arm dedicated to increasing the impact of international partnerships and development finance. EIB Global is designed to foster strong, focused partnerships within Team Europe, alongside fellow development finance institutions and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world.