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The European Investment Bank Group Presents a Framework for Environmental Sustainability

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The European Investment Bank Group Presents a Framework for Environmental Sustainability

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EIB financial and technical assistance, as well as advisory tools will result in benefits for the environment, and for human health and well-being

The framework supports environmental investments around the world, contributing to green, resilient and equitable development. The EIB is improving the assessment of environmental impacts and risks related to its operations and activities. EIB financial and technical assistance and advisory tools will result in benefits for the environment and for human health and well-being.

The European Investment Bank (EIB) has launched its Environment Framework to support environmental sustainability projects globally, in line with its approach to sustainable development. green, resilient, equitable and inclusive. The plan was unveiled at COP 27, the UN climate conference held in Sharm el-Sheikh, Egypt.

The Bank will support operations contributing to the reduction of pollution and the protection of human health and well-being, the sustainable use and safeguarding of water resources, as well as the development of a blue economy. preserving marine and coastal resources. The EIB will also help accelerate the transition to a more circular economy and strengthen its contribution to reversing the global trend of biodiversity loss and ecosystem degradation.

Ambroise Fayolle, EIB Vice-President  : “Climate change, pollution, ocean acidification and environmental degradation pose existential threats to the planet and human life. By launching its environmental framework, the EIB is making progress towards implementing the commitment it made at COP26, namely to strengthen its support for nature conservation. We are ready to work with our partners and clients to avoid and manage risks to biodiversity and ecosystems, and to increase investment in environmental sustainability projects globally, thereby contributing to green, resilient development. , fair and inclusive.

The new framework furthers the commitment made by the EIB and other multilateral development banks at COP26, the UN climate conference in Glasgow, to step up efforts in for the protection, restoration and sustainable use of nature.

See related article: EIB and Development Bank of Southern Africa Launch €400 Million South Africa Renewable Energy Investment Initiative

Under the new framework, the EIB plans to mobilize increased financing for environmental sustainability projects and to support these operations by deploying new activities on the green debt markets as well as blended (mixing) and technical assistance. Particular emphasis will be placed on supporting pilot initiatives — for example a pilot model for the creation of high-integrity “nature credit markets” — that can have a large-scale sustainable environmental impact, with the aim of reproduce these solutions at a later stage.

The EIB has developed a number of risk and impact measurement tools that will support its environmental sustainability efforts. Project assessments will now take biodiversity and ecosystem support benefits into account to better integrate environmental considerations into the review of funding requests. In addition, the EIB is exploring different bio-footprinting methods to better identify physical biodiversity risks associated with its projects, and is expanding its climate risk screening methodology to include environmental risks in a more integrated.

The EIB, including the EIB World, is already engaged in financing investments that generate environmental benefits. It supports the implementation of the European Green Deal, including its external dimension and, in particular, the actions set out in the EU roadmap to ensure a just and inclusive transition towards a sustainable economy. It also supports the achievement of the United Nations Sustainable Development Goals worldwide.

Source: Africa Newsroom

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