Conference of the Parties (COP27): European Investment Bank (EIB) will Strengthen Support for Just Transition Projects Across the World

Conference of the Parties (COP27): European Investment Bank (EIB) will Strengthen Support for Just Transition Projects Across the World

The EIB (www.EIB.org) plans to pioneer financing for just resilience, with targeted support for communities most affected by planet’s warming; It stands ready to support Just Energy Transition Partnerships; The Bank will present a global just transition approach in 2023.

The European Investment Bank (EIB) pledged to expand its range of financing tools for projects aimed at supporting a just transition to a climate-neutral economy across the world. EIB Global, the EU lender’s dedicated arm for outside the EU, will adopt its comprehensive strategy in early 2023, unveiling new instruments, which will back an equitable decarbonisation that leaves no one behind.

In a statement (https://bit.ly/3ABjseP) released during the COP27 United Nations climate conference in Sharm el-Sheikh, Egypt, the EIB vowed to offer financing and advisory services in regions that combine carbon-intensive production with socio-economic fragility. Moreover, in the context of a Just Resilience strategy, the EIB will seek to support adaptation actions explicitly addressing the needs of population groups most vulnerable to the impacts of climate change. You can watch the launch event here (https://bit.ly/3g54w1m).

EIB Vice-President Ambroise Fayolle commented: “The transition to a carbon neutral economy will be accompanied by socioeconomic impacts for the global workforce. The EIB aims to support countries