EIB President Werner Hoyer calls for ambitious climate plans
20 September 2021
The European Investment Bank (EIB) President Werner Hoyer and Vice-President Ambroise Fayolle will discuss climate action at a series of events this week during the 76th session of the United Nations General Assembly and New York Climate Week. They will explain how the EIB is raising its climate ambition and will highlight the importance of partnerships to meet global climate goals. They also will outline what it will take to make the COP26 climate conference a success.
EIB President Werner Hoyer commented: “Time is running out to act on climate change. With six weeks to go until the COP26 climate conference, we need a global response now. As the EU Climate Bank, the EIB is accelerating its efforts. We are formalizing a new climate Adaptation Plan. We are ensuring that our clients are aligned with the Paris Agreement. And we are increasing our support for green projects outside the EU, with a special focus on Africa. I call on all our partners to come forward with ambitious climate plans at COP26 to promote a just transition to net-zero, globally.”
Building the Green Consensus
On 20th September, the EIB is co-organising a live online event, Building the Green Consensus. Speakers include EIB President Werner Hoyer; the President of the European Bank for Reconstruction and Development, Odile Renaud-Basso; the Director for the Center of Sustainable Development at Columbia University, Jeffrey D. Sachs; and the chief executive of the Climate Investment Funds, Mafalda Duarte. They will explore how public finance can encourage the private sector to invest more money in green projects.
Getting it done
Also on 20th September, EIB Vice-President Ambroise Fayolle will participate in the opening day of New York Climate Week to discuss how partnerships can help governments, cities, companies and the financial sector achieve the global climate targets.
High-level dialogue on Energy
On 24th September, EIB President Hoyer will address the UN High-Level Dialogue on Energy, convened by UN Secretary-General António Guterres. The EIB is a co-leader of the working group on finance and investment that is one of the five focus areas of a UN roadmap launched in June. The roadmap was created to show how we can give everyone in the world access to sustainable energy by 2030.
In a recent interview in New York with Bloomberg TV at the margins of the UN General Assembly and New York Climate Week, EIB President Werner Hoyer discussed the current energy crisis and efforts to develop renewable energy and infrastructure. Questioned by presenters Alix Steel and Guy Johnson on the EIB’s energy lending policy, President Hoyer said, “We need to stay the course on decarbonisation." Decarbonisation, he said, requires a much stronger focus on innovation, development and climate. "Decarbonisation is not a luxury, it’s an imperative if we want to keep our planet alive."
An EIB delegation led by President Werner Hoyer, with the participation of Vice-Presidents Ambroise Fayolle and Thomas Östros, visited Washington DC on 25 and 26 August for high-level meetings with the US Administration, multilateral development institutions and leading think tanks on climate action and the forthcoming COP27 (6-18 November in Egypt), energy transition, Ukraine’s reconstruction and the global economic outlook as a result of the war in Ukraine.