Climate change is a serious concern for Europeans and Europe aims to become the first climate-neutral continent by 2050. This requires a rapid transformation of the energy sector. The European Green Deal, an ambitious package of measures for a sustainable green transition, shows how Europe can lead the world to climate neutrality.
With its ambitious Energy lending policy, the EIB sets a milestone in the fight against climate change. We have decided to phase out the financing of unabated fossil fuel energy projects, including natural gas, by the end of 2021.
Our Energy lending policy (ELP) applies to all EIB financing in the energy sector. This includes:
- operations inside and outside the EU, and
- both direct EIB investment loans and intermediary financing.
This lending policy is designed to ensure that the Bank’s activities in the energy sector are consistent with and support EU policies. It focuses on areas with the greatest investment needs, areas where our support can add value, or high priority policy areas.