EIB response to Bankwatch study ‘Carbon rising: European Investment Bank energy lending 2007-2010’
Advocacy letter | 16 January 2012
The European Investment Bank responded to the study Carbon Rising: European Investment Bank energy lending 2007-2010 in which Bankwatch analysed the energy lending by the EIB since the institution launched its energy policy in 2007.
Bankwatch’s rejoinder to the EIB’s letter can also be downloaded as pdf.
The ‘Carbon Rising’ study found that:
- While lending to renewables has increased in the period 2007-2010, support for fossil fuels has also risen, almost doubling from 2.8 billion euros in 2007 to 5 billion in 2010.
- Additionally, there is still a large gap between the investments into renewable energy in the EU-15 (old Member States) and the New Member States. The level of energy efficiency investments is still extremely low.
A summary of the report’s main findings can be found in our briefing The European Investment Bank – powering a sustainable future?.