Last night EU Member States and the Commission agreed to a new energy lending policy for the European Investment Bank, which will see the EIB end investments for most fossil fuels from the end of 2021 and have 50% of its investments go to climate and sustainable investment projects from 2025.
The EIB will end financing for fossil fuel energy projects from the end of 2021. Future financing will accelerate clean energy innovation, energy efficiency and renewables. EIB Group financing will unlock EUR 1 trillion of climate action and environmental sustainable investment in the decade to 2030.
EIT Climate-KIC developed a suite of initiatives with systemic impact that integrate nature-based solutions and related strategies, such as granular-level urban greening, normalising climate resilience labelling for properties, scaling sustainable food production and reducing emissions through plant-based diets.
The European Economic and Social Committee (EESC) believes that tackling the social question is absolutely crucial to achieve the United Nations 2030 Agenda on Sustainable Development in the EU. The implementation of the 17 Sustainable Development Goals (SDGs) requires merging the social with the economic and environmental dimensions of sustainability, bringing about a systemic change and overcoming the silo thinking prevalent in current EU strategies. The “new deal” announced by the Commission President-elect should therefore be a Green and Social Deal ensuring that no one is left behind in the transition to a sustainable and carbon-neutral Europe.
A summary of the report back on ongoing interinstitutional negotiations is now available.
A summary of the debate is now available.
Update: An addendum was published (ADD1).