EU Bank launches ambitious new climate strategy and Energy Lending Policy

The board of the European Investment Bank (EIB) today agreed a new energy lending policy and confirmed the EIB’s increased ambition in climate action and environmental sustainability.

The new energy lending policy details five principles that will govern future EIB engagement in the energy sector:

• prioritising energy efficiency with a view to supporting the new EU target under the EU Energy Efficiency Directive
• enabling energy decarbonisation through increased support for low or zero carbon technology, aiming to meet a 32% renewable energy share throughout the EU by 2030
• increasing financing for decentralised energy production, innovative energy storage and e-mobility
• ensuring grid investment essential for new, intermittent energy sources like wind and solar as well as strengthening cross-border interconnections
• increasing the impact of investment to support energy transformation outside the EU.