Vice-President Fayolle: 'We are walking the talk as a global climate bank'

Good morning, dear panellists, chère Laurence and everyone joining us today.

It is a real pleasure to open today’s event organised by the European Investment Bank Group on “Making the green transition a global success.” This title brings together two themes that are especially close to my heart: the green transition – and its global dimension.

Let me start with the green transition.

For those of us here at COP, it’s clear: climate change is no longer a future threat, it is a present reality. From rising sea levels to wildfires and floods, the urgency to shift toward a low-carbon, resilient future has never been greater. It is not just responsible, it is the smart thing to do. It is about protecting our planet and ensuring the well-being of our society. But this transition must be more than green, it must also be a global success.

So let me now turn to the global dimension.

Climate change affects every region and every sector. The challenges we face are global and deeply interconnected. Our solutions must be equally coordinated and inclusive. While countries may take different paths, I am convinced we share one common goal: to build safer, more resilient communities for everyone.

And as the climate bank, we are ready to promote alliances and to work with partners around the world to ensure that the benefits of the green transition are shared globally.

In this spirit, I am proud to announce two recent milestones that reflect the EIB Group’s commitment to making the green transition a global success:

1.      The publication of the second phase of our pioneering EIB Group Climate Bank Roadmap, and

2.      The launch of the new EIB Global Strategic Orientation.

Let me begin with the Climate Bank Roadmap Phase 2, that was shaped with valuable input from our partners at the European Commission and civil society organisations.

Since 2020, the EIB Group has transformed into the climate bank, in line with the European Commission’s Green Deal. Our goal was to direct at least 50% of our investments to climate action and environmental sustainability. In 2024, we reached 60% – over €50 billion. That is not just a target met – it’s a signal of our ambition.

The unanimous approval of the second phase of our Climate Bank Roadmap by all 27 EU Member States sends a powerful message: while some may be pushing back, we are moving forward.

We are not only maintaining our climate targets and extending them across the entire EIB Group – we are also doubling our financing for climate adaptation between 2026 and 2030. And adaptation is a matter very close to my heart, colleagues at the EIB know this very well. We have now committed to finance €30 billion of climate adaptation projects over the next five years.

This means enhancing the resilience of cities, infrastructure, businesses – and most importantly: people. It’s about preparedness. It’s about security. It’s about safeguarding our future.

Beyond targets, the second phase of our Climate Bank Roadmap guides us to invest where it matters most. We are prioritising green investments that deliver multiple benefits. This means solutions that not only protect our planet, but that also drive competitiveness, prosperity and security and preparedness. There is no contradiction between climate ambition and economic strength. On the contrary, they reinforce each other.

In support of these ambitions, we are also introducing simplifications along the way. We are simplifying processes by reducing administrative burdens, especially for small businesses. We are now also benefiting from more robust regulatory standards and from simplified assessment tools.

One of the tools I am particularly proud of is the EIB Group Green Checker.

For those of you who are not familiar with this, the Green Checker is an online tool that enables financial intermediaries to assess transactions against eligibility criteria and estimate the climate impact. It was developed by the EIB Group and external consultants, with the funding support of the InvestEU Advisory Hub. So far, it has been used mostly for inside the EU and I am proud to share that we are now broadening its scope to include countries beyond Europe. Once again, testament to our efforts to accelerate climate investments globally.

Now, turning to our second milestone: the EIB Global Strategic Orientation.

As many of you know, EIB Global is the arm of the EIB Group development arm. Let me highlight the most important point: climate action is at the heart of EIB Global’s new strategic orientation, which is fully aligned with the Climate Bank Roadmap Phase 2.

To give you a sense of scale: in 2024, nearly 60% of our financing outside the EU – €4.7 billion – supported climate action and environmental sustainability. And around €1.4 billion, or 33% of our climate action focused on adaptation.

Our adaptation investments include a debt-for-climate swap in Barbados, two major water projects in Bangladesh bringing clean water to over ten million people in Dhaka, and a large-scale water system in Jordan, using renewable energy to desalinate Red Sea water and deliver it from Aqaba to Amman.

Going forward, we will deepen our support outside the EU, for the clean energy transition, climate adaptation and more. And we continue to contribute to achieving the UN Sustainable Development Goals promoting a just, inclusive transition.

We are working closely with fellow multilateral development banks (MDBs) to advance global priorities. Our joint climate finance figures for 2024 show that MDBs are on track to meet their ambitious targets, delivering transformative impact worldwide.

To conclude, let me emphasise that at the EIB Group, here at COP, we are walking the talk as a global climate bank – contributing to the EU’s international climate leadership and ensuring a strong European voice at COP30.

We are announcing targeted support for climate and women-led projects in the Amazon region, investments to strengthen electricity grids in Brazil, and financing for clean energy across Latin America. We will also step up efforts to promote reforestation and protect biodiversity in emerging economies.

And now, I am very pleased to welcome Professor Laurence Tubiana, architect of the Paris Agreement and COP30 Special Envoy for Europe. My dear friend, I trust you will agree: European leadership on making the green transition a global success is more important than ever.

Thank you for being here – and thank you all for joining this important event today.