We must transform our energy systems rapidly in order to achieve net-zero emissions and to minimise human impact on climate. Energy is a key EU policy and the EIB helps foster the investment needed for this transformation.
In late 2019, we approved a new energy lending policy and confirmed the EIB’s increased ambition in climate action and environmental sustainability.
Our engagement in the energy sector revolves around four schemes:
unlocking energy efficiency investments with a view to supporting the new EU target under the EU Energy Efficiency Directive, in particular for building renovation;
decarbonising energy supply through increased support for renewables, aiming to meet a 32% renewable energy share throughout the EU by 2030. This comprises renewable electricity, but also extends to the production of low carbon gas (e.g. hydrogen, biogas) or renewable heat (biomass, geothermal);
supporting innovation and innovative energy infrastructure such as decentralised energy production, energy storage and e-mobility;
ensuring power grid investment, where needed, to enable the integration of new, diversified energy sources, such as wind and solar, as well as strengthen cross-border interconnections.
In line with its new energy lending policy, the EIB will no longer consider new financing for unabated, fossil fuel energy projects, including natural gas. With this decision, the EIB has become the first international finance institution to end financing for fossil fuel projects and to focus its support on projects that are fully aligned with the Paris Agreement. Find more information on the implementation of the EIB’s energy lending policy