For a just transition
Climate change poses a real threat to our societies and livelihoods. Oftentimes it is forgotten how much of a role public finance institutions can play in fighting climate change.
By making the right investment decisions, the EIB and other public institutions can play a pivotal role in our common struggle against climate change and steer our economies onto a more sustainable path.
At a European level, public finance is being mobilised to finance the European Green Deal and decarbonise our economies. The European Investment Bank (EIB) and other public banks are often claiming to be at the forefront of this effort to fight the climate urgency.
Still, despite recent progress with a ban on fossil fuels at the EIB, the bank financed high-carbon operations worth € 28.7 billion in the energy and transport sectors only between 2016 and 2019. There is a long way to go for EU public finance to clean up its act and only support long-term and transformative projects benefiting citizens and their territories.
We work to re-orient public investments so that they are aligned with the objectives of the Paris Agreement to stop global warming. Since a decade, we have coordinated numerous campaigns calling for an end to harmful public support to fossil fuels (like coal, oil and gas) and dirty transport modes (like aviation and motorways).
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