President Hoyer portrait ©EIB

In a guest contribution for Handelsblatt, EIB President Werner Hoyer argues that climate protection and a sustainable economy create many new jobs, contrary to certain claims heard at the COP24 in Katowice that they destroy jobs and slow economic growth. He warns that such voices are “harmful, dangerous and wrong”. Statistics conversely confirm that the green economy has been a driver for employment growth in recent years, with the number of jobs worldwide in renewable energy increasing by 45% since 2012. These arguments must be highlighted to the populace to raise the willingness to invest in climate-friendly measures, asserts Mr Hoyer. The EIB intends to allocate a total of EUR 100 billion towards climate protection by 2020, which will reduce the risk for private investors. He adds that the EIB supports over 1,000 cities and communities across the globe investing in sustainable infrastructure. “If Europe is to grow sustainably, we must work together to make our economies greener, more resilient and fairer”, Mr Hoyer stresses, concluding that “the clock is ticking mercilessly” and so we must act more quickly. In a page-2 excerpt from Mr Hoyer’s contribution, he is quoted as saying that Europe needs “a circular economy that will improve the environmental footprint and strengthen Europe's competitiveness.”

Discover the full guest contribution here in German, on Handelsblatt.com.

Click here for the English version.