The European Investment Bank – powering a sustainable future?
Briefing | 8 December 2011
This briefing summarises the main findings of our report Carbon Rising: European Investment Bank energy lending 2007-2010.
While the EIB’s 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. Fossil fuel infrastructure being built now will still be working in 2050, thus locking Europe into fossil fuel consumption and dashing its chances of meeting its 80-95 percent greenhouse gas reduction targets.
Find the full report on our website.
Theme: Energy & climate