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