Reviewing the European Investment Bank’s carbon footprint methodology

It is encouraging that the European Investment Bank (EIB), which developed its methodology for calculating greenhouse gas emissions, published in 2012, is now considering its further review.

It is crucial for the Bank to periodically review the methodology, to be in line with the latest scientific developments regarding emissions calculations from different sectors in order to properly track the impacts of financed projects. For the EIB, the EU’s financial arm, it is a matter of policy compliance to prevent the lock-in of carbon intensive technologies, if Europe is going to meet its commitments made under the Paris Agreement to pursue efforts to limit temperature rise to 1.5°C.