The climate clock is ticking.

The time for the EU bank to abandon fossil fuels & shift its funds to clean energy is
NOW!

ACT NOW!
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Time left to tell the EU bank
it needs to quit fossil fuels forever

Why now?

The European Investment Bank (EIB) - bank of the EU and world’s biggest public lender - is currently reviewing its energy lending policy. Its choices will be decisive for EU citizens, European public finance and the climate worldwide.

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Phasing out fossil fuels

Despite its announced climate commitment, the EIB still largely finances fossil fuel projects, thus contributing to the irreversible warming of our planet. It is high time for the bank to align with the Paris Agreement and stop these climate-wrecking investments.

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Towards a green and just transition

In order to reduce greenhouse gas emissions and realize a transition towards clean energy, it will be key to accelerate the use of renewables, as well as to decrease energy consumption - as the European Environment Agency concluded.

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Fast facts

Between 2013 and 2017 the EIB lent € 11.8 billion to fossil fuels.
In 2018 the EIB approved loans worth € 2.4 billion for one of the most expensive (and controversial) gas infrastructure projects of all time: the Southern Gas Corridor.
Since 2013, the EIB provided € 3.9 billion to coal heavy companies.
In the last five years, the EIB lent more than € 49 billion to the energy sector.
The EIB - bank of the EU - is the world’s biggest multilateral lender, bigger than the World Bank, and that’s why its energy choices matter.
The latest report by the IPCC claims that if we don’t manage to contain global warming to 1.5°C, the consequences for our planet and our ecosystems will be disastrous.
The IEA says  that to keep global warming below 1.5°C, there is now "no room to build anything that emits CO2 emissions”
Gas contributes significantly to climate change. Not only does it emit CO2 when it’s burned, but it also inevitably leaks in the form of methane - a dangerous greenhouse gas which is 34 to 86 times more potent than CO2

Latest on the EIB and energy..

Act now!