On November 17, 2019 the European Investment Bank (EIB) announced its new Energy Lending Policy (ELP) and proclaimed it will become the 'EU Climate Bank'.

Sounds great at first glance, but what’s next?

From avoiding a 2 year gas bonanza to making sure we put our money where our mouth is, there are a few key challenges that lie ahead to ensure that the road to 2021 isn’t filled with new fossil fuel projects financed by the EIB.

Counter Balance put a magnifying glass on what the ELP means and what the major pitfalls are that we must avoid to ensure the EIB lives up to its self-proclaimed title of 'EU Climate Bank'.

2020 Energy Lending Policy Brochure title page

EIB Energy Lending Policy: Stepping closer to a fossil free finance