Mobilising finance for the transition to a low-carbon and climate-resilient economy
This document by the European Investment Bank (EIB) presents a forward looking statement describing the Bank’s future direction and developments of its climate action.
The Climate Strategy is structured around three strategic action areas that serve as guiding orientations for the Bank’s future climate action: i) reinforcing the impact of EIB climate financing, ii) increasing resilience to climate change, and iii) further integrating climate change considerations across all of the Bank’s standards, methods and processes. Within each of these strategic action areas, various operational initiatives are introduced, such as innovative financial instruments, outreach and cooperation with stakeholders, the development of standards and methodologies and the provision of advisory services.
EIB policy regarding Energy Efficiency
EIB finances energy efficiency projects that are economically justified on the basis of a classic cost-benefit analysis – i.e. the net present value of the cost of the project over its life is less than the net present value of the energy saved, including externalities. In cases where it is difficult to separate out the investments directly related to energy savings, the net present value of such savings should be at least equal to 50% of the net present value of the cost of the project over its life.
The following also qualify as energy efficiency projects: highly efficient combined heat and power (CHP) plants that fulfil the energy efficiency requirements set out in Directive 2012/27/EU (excluding coal); energy efficiency measures of building refurbishments achieving cost-optimal refurbishment levels defined by Directive 2010/31/EU and calculated following Regulation (EU) No 244/2012; and the construction of near-zero energy buildings in line with Art.9 (2) of Directive 2010/31/EU.
EIB policy regarding Urban Development
EIB finances activities within urban development and retrofitting projects that embrace adaptation measures to improve the city’s climate resilience. Projects that aim to increase energy efficiency and promote waste minimisation.
Examples of eligible projects would be, inter alia: reduction of the use of passenger cars and CO2 emissions, more sustainable buildings and outdoor lighting including street lighting, mixed-use and denser developments that promote urban concentration, reduce the need for travel or promote resource efficiency.
To download the document, please visit the relevant EIB webpage at the link below.