Joint Letter to the EIB: the bank must meet its climate legal obligations

Counter Balance, together with Bank Climate Advocates and 13 civil society organisations, has sent a joint letter to the European Investment Bank and its member states demanding they amend their climate policies to meet their legal obligations, as detailed in an independent legal opinion delivered in November 2025.

The opinion is clear: multilateral development banks and their shareholders are violating international law unless they stop funding fossil fuel projects and apply the best available science to all climate due diligence.

The EIB calls itself a ‘Climate Bank’ and has stopped financing fossil fuel projects. Nevertheless, it needs to make important changes to meet its legal climate obligations, such as ending support for companies and projects that prolong the life of fossil fuel infrastructure, improving the climate impact of all projects and supporting a just transition in the Global South.

Read our letter below and join us in demanding accountability.