FLATTERING TO DECEIVE: A reality check for the ‘EU Climate Bank’
Report | 15 June 2022
In 2020, the EIB adopted a roadmap to transform itself into the ‘EU Climate Bank’. The previous year, in an unprecedented move for a public bank, the EIB committed to phase out fossil fuels by the end of 2021. In this Counter Balance and CEE Bankwatch Network report, we carry out a reality check on this transformation into the ‘EU Climate Bank’, by analysing EIB operations in 2020 and 2021. In particular, we focus on the most carbon-intensive sectors of operations – energy and transport.
This report seeks to inform important processes taking place at the EIB in 2022 and 2023, specifically the mid-term reviews of its Energy Policy and its Climate Roadmap. Through the report, we hope to influence these processes, ensuring that the EIB keeps its divestment promises and uses its financial power to inspire a wave of investments in truly sustainable energy and green public transportation.