Together on climate

As one of the world’s biggest providers of climate finance, we work closely with the other multilateral development banks (MDBs) and the members of the International Development Finance Club to harmonise concepts and approaches.

During COP26, the EIB Group launched new initiatives under its Climate Bank Roadmap, to support adaptation projects and engage with clients to help them align to the goals of the Paris Agreement.

Sustainable energy for one billion people by 2030

Today 800 million people lack access to electricity, including half the population of sub-Saharan Africa. Another 2.8 billion people lack access to electricity that is reliable enough to secure their livelihoods or power modern healthcare facilities and schools. The pandemic has only exacerbated the inequality of global energy access.

To tackle this challenge, the Rockefeller Foundation and the EIB have announced a global coalition to provide sustainable energy for one billion people within this decade. Development finance, global energy and multilateral agencies commit under this global coalition to accelerate electrification as the cornerstone of an equitable, global economic recovery.
We have also partnered with the United Nations and other partners for a global energy roadmap outlining concrete actions to achieve clean, affordable energy for all by 2030 and net-zero emissions by 2050. We are-co-leading together with key partners the technical report on Finance and investment. Find out more about this collaboration

Other key examples of our work in this area are our leadership of the working group which established the Green Bond Principles and our contribution to developing a harmonised framework for impact reporting on projects to which Green Bond proceeds have been allocated.

The City Climate Finance Gap Fund

The Gap Fund paves the way for cities to deliver ambitious infrastructure development for low-carbon, resilient and livable cities. It provides technical assistance for early-stage planning and project preparation. It unlocks a pipeline of financially viable urban investments that contribute to local transformation, global climate goals and green recovery.

Go to dedicated website

We are also a member of the European Financing Institutions Working Group on Climate Change Adaptation and a partner in the Climate and Clean Air Coalition to Reduce Short-Lived Climate Pollutants and the Climate Bonds Initiative.

Our collaboration with partner institutions also remains focused on mainstreaming climate considerations into everything we do. Public and private financial institutions all over the world are supporting five voluntary Climate Mainstreaming Principles, putting climate at the heart of all we do.

Global Climate City Challenge

The Global Climate City Challenge is a joint initiative of the European Investment Bank (EIB) and the Global Covenant of Mayors (GCoM), representing over 9 000 cities from six continents, to provide technical assistance that helps prepare and fast-track financing of urban climate action projects.

Project proposals ranged from e-mobility, waste to energy, urban greening, resilience and climate adaptation measures, and the five winning cities were announced at COP25 in Madrid.

Find out more

In the spotlight

Find out more about how we work with partners to tackle climate change.

9 December 2023

COP28: Multilateral development banks publish first common principles for nature-positive finance

The European Investment Bank (EIB) and fellow multilateral development banks (MDBs) have today published common principles for identifying and tracking nature-positive finance. The announcement comes on nature day of the United Nations COP28 climate change conference in Dubai, United Arab Emirates.

Partners Climate COP28 Ambroise FAYOLLE Climate action Management committee United Nations Development Climate action and environment Institutional
5 December 2023

COP28: The EIB and Meridiam showcase a new investment initiative to protect vulnerable cities in Africa from climate change

On Monday December 4th, at COP28 in Dubai, the European Investment Bank (EIB) and Meridiam presented the first project – in Mauritania - to be developed and financed by The Urban Resilience Fund (TURF). The Nouakchott Coastline Development Project, managed by Meridiam, aims at protecting Mauritania’s capital city from coastal erosion and flooding, while also developing new activities to the benefit of its communities.

Partners COP28 United Nations Mauritania Africa, Caribbean, Pacific countries + OCT Development Climate action and environment Institutional
5 December 2023

COP28: EIB Global presents first just resilience and just transition approach to meet needs of most vulnerable

At the COP28 climate change conference, EIB Global, the development arm of the European Investment Bank (EIB), has presented its new approach to increase financing and advisory services in support of a just transition and just resilience worldwide. The EIB will be the first international financial institution to apply a just resilience approach from the start of 2024. Building on its considerable work in the European Union, in support of communities impacted by decarbonisation efforts, EIB Global has also announced it is expanding its just transition support worldwide.

Partners COP28 Ambroise FAYOLLE Management committee United Nations Development Climate action and environment Institutional
5 December 2023

COP28: German government and EIB provide €20 million grant to support Ukraine’s energy transition

On the sidelines of a COP28 event organised by the German-Ukrainian Energy Partnership, Germany’s Federal Ministry of Economic Affairs and Climate Action (BMWK), the European Investment Bank (EIB) and Ukraine’s Ministry for Restoration agreed on the intention to sign a €20 million grant for the Renewable Energy Solution Programme (RES). This grant will enhance renewable energy in Ukrainian municipalities and foster energy independence in public institutions.

Partners COP28 United Nations Ukraine Eastern Europe, Southern Caucasus Climate action and environment Institutional
4 December 2023

COP28: EIB signed €20 Million Line of Credit and Technical Assistance Grant to Boost Rwanda's Climate Financing

Greening Financial Structures (GFS) Programme Partners Thomas ÖSTROS COP28 Management committee United Nations Rwanda Africa, Caribbean, Pacific countries + OCT Climate action and environment Institutional
4 December 2023

COP28: Jordan: EUR 100 million EIB backing to tackle water scarcity through desalination and conveyance project

European Investment Bank (EIB) today announced an additional EUR 100 million of new investment for construction of the Aqaba Amman Desalination and Water Conveyance project. The scheme will desalinate water from the Red Sea and transport it to Amman and towns across Jordan, one of the most water-scarce countries in the world, thereby contributing to climate change adaptation. This additional funding follows EUR 200m signed in December 2022.

Water Environment Partners COP28 Management committee United Nations Gelsomina VIGLIOTTI Jordan Mediterranean countries Development Climate action and environment Institutional Water, wastewater management
3 December 2023

COP28: North Macedonia: EIB Global co-signs Joint Declaration on the Just Transition Investment Platform

At the COP28 climate conference, EIB Global, the arm of the European Investment Bank for activities outside the European Union, signed a Joint Declaration on the Just Transition Investment Platform for North Macedonia. Initiated by the Government of North Macedonia with technical support from the European Bank for Reconstruction and Development (EBRD), the platform aims to help mobilise up to €3 billion in investments and policy and technical assistance to accelerate the country’s energy transition and the deployment of 1.7 GW in new renewable energy capacity until 2030, along with grid and storage infrastructure. The support package is designed to ensure the positive outcomes of the green transition, while protecting the jobs and livelihoods of affected communities.

Partners Climate Thomas ÖSTROS COP28 Climate action Management committee United Nations North Macedonia Enlargement Countries Development Climate action and environment Institutional
3 December 2023

COP28: Rwanda Climate Finance Partnership Powers Innovative Climate Action

The Rwanda Climate Finance Partnership, which was launched at the Paris Summit for a New Global Financing Pact, will further power innovative climate action thanks to additional contributions from the Government of Rwanda. The partnership is supported by Agence Française de Développement (AFD), the European Union and Team Europe, the European Investment Bank (EIB), the International Finance Corporation (IFC), German Cooperation via KfW Development Bank, and the Italian Cooperation system with the support of Cassa Depositi e Prestiti (CDP); and it complements existing partnerships, including the Rwandan-German Climate and Development Partnership and ongoing initiatives with the World Bank. The formal announcement was made on the sidelines of the COP28 UN Climate Change Conference in Dubai, UAE.

Greening Financial Structures (GFS) Programme Partners Climate COP28 Climate action United Nations Rwanda Africa, Caribbean, Pacific countries + OCT Development Climate action and environment Institutional
3 December 2023

COP28: Multilateral Development Banks boost joint action on climate and development

Multilateral Development Banks (MDBs) have published a joint statement where they present concrete and urgent actions to scale up finance and enhance climate outcomes measurement, strengthen country-level collaboration, and increase co-financing and private sector engagement. The announcement comes as world leaders are gathering at the COP28 United Nations Climate Change Conference in Dubai, United Arab Emirates.

Partners COP28 Management committee United Nations Development Climate action and environment Institutional
2 December 2023

COP28: Blue Mediterranean Partnership steps up support for sustainable blue economy

At COP28, partners and donors involved in the Blue Mediterranean Partnership reinforced their support for developing the sustainable blue economy in the southern Mediterranean region. The parties involved signed a letter of intent to make their participation in the Partnership official and to make the Partnership operational in early 2024.

Oceans Environment Partners Climate COP28 Ambroise FAYOLLE Climate action Management committee United Nations Development Climate action and environment Institutional
2 December 2023

COP28: Rwanda: EIB and Bank of Kigali outline EUR 100 million plan to enable farmers adapt to climate change

Farmers and agricultural businesses across Rwanda are set to be able to better withstand the economic, social and business impacts of climate change under a new EUR 100 million climate finance initiative. The scheme will provide a substantial boost to smallholders, businesses, and enterprises dependent on climate-vulnerable agriculture across Rwanda.

Partners Thomas ÖSTROS COP28 Management committee United Nations Rwanda Africa, Caribbean, Pacific countries + OCT Agriculture Development Climate action and environment Institutional
2 December 2023

COP 28: EIB and AllianzGI announce new capital commitments to the Emerging Market Climate Action Fund (EMCAF)

The European Investment Bank (EIB) and Allianz Global Investors (AllianzGI) announced new capital commitments to the Emerging Market Climate Action Fund (EMCAF). The United Kingdom Foreign, Commonwealth & Development Office (FCDO) will commit €10 million (£9 million). In addition, on behalf of Germany’s Ministry for Economic Affairs and Climate Action, Kreditanstalt für Wiederaufbau (KfW) intends to top up its existing commitment with an additional €33 million. Including these new commitments, EMCAF will likely hold its third close with a total of €385 million in the coming weeks. Anchor investors in EMCAF since the start include the governments of Germany and Luxembourg, the Nordic Development Fund, Allianz, Folksam Group and EIB.

Partners Climate COP28 Ambroise FAYOLLE Climate action Management committee United Nations Climate action and environment Energy Institutional

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