EIB Group creates Climate and Environment Advisory Council

• Leaders from academia, business, civil society and international organisations
• First meeting took place today and discussed adaptation and Paris Alignment
• The Advisory Council is helping the EIB Group to reach its climate action and environmental sustainability ambitions

The European Investment Bank (EIB) Group has created a Climate and Environment Advisory Council that will provide independent advice and expertise on the activities that the EIB Group is carrying out to reach its climate action and environmental sustainability ambitions.

The Advisory Council met for the first time today and discussed the EIB Group Climate Bank Roadmap and in particular EIB activities to support adaptation to the impacts of climate change and the EIB Group Paris Alignment for Counterparties framework. The meeting was chaired by Christine Lagarde, President of the European Central Bank (ECB), and included the founding members of the Advisory Council.

The EIB Group Climate Bank Roadmap sets out in detail how the EIB Group aims to support the objectives of the European Green Deal and sustainable development outside the European Union.

EIB President Werner Hoyer said: “Climate change remains the decisive challenge of our time and requires a rapid global response. The EIB Group is preparing a strong contribution for the COP26 climate conference in Glasgow in November. I am thrilled that we can now count on a group of top world leaders to assist us in strengthening our role as the EU climate bank. I want to thank all the Advisory Council members and express special gratitude to Christine Lagarde for agreeing to chair this highly distinguished group.”

ECB President Christine Lagarde stated: “Climate change is one of the greatest challenges faced by mankind this century. It is an honour to chair this council and work with this distinguished group of leaders to advise the EIB Group on its climate and sustainability ambitions.”

EIB Vice-President Ambroise Fayolle commented: “We are delighted to be joined by outstanding experts and leaders from whose skills, diverse experience and backgrounds, and knowledge we will greatly benefit in our role as the EU climate bank. We look forward to working with them to help us accelerate and scale up the transition to a low-carbon and climate-resilient future, one that will leave no one behind. ”

EIB Group Climate and Environment Advisory Council members

Chair: Christine Lagarde, President, European Central Bank. Jos Delbeke, Professor, European Institute Florence (EUI) and Katolieke Universiteit (KU) Leuven; EUI’s EIB Chair on Climate Change Policy and International Carbon Markets. Helena Viñes Fiestas, Commissioner, Spanish Financial Markets Authority; Board Member, Institutional Investors Group on Climate Change; and Rapporteur EU Platform on Sustainable Finance Civil Society. Heinz Jörg Fuhrmann, Former Executive Board Chairman, Salzgitter AG. Connie Hedegaard, Chairman of the Board, KR Foundation. Marcin Korolec, President of the Polish Electric Vehicles Promotion Foundation (FPPE). Bertrand Piccard, Founder and Chairman of the Solar Impulse Foundation. Johan Rockström, Director, Potsdam Institute for Climate Impact Research. Samantha Smith, Director of the Just Transition Centre, International Trade Union Confederation International organisations. Francesco Starace, Chief Executive Officer and General Manager, Enel.

Background information

The EIB is active in around 160 countries and is the world’s largest multilateral lender for climate action projects. The EIB Group recently adopted its Climate Bank Roadmap to deliver on its ambitious agenda to support €1 trillion of climate action and environmental sustainability investments in the decade to 2030 and to deliver more than 50% of EIB finance for climate action and environmental sustainability by 2025. Also, as part of the Roadmap, from the start of 2021, all new EIB Group operations will be aligned with the goals and principles of the Paris Agreement.

This article was first published on September 1 by EIB.