Web database of sustainable settlements and neighbourhoods

EU to trigger €4 trillion in climate change investment

1 trillion to be invested by the EU

According to the head of the EIB (European Investment Bank), Werner Hoyer, it is realistic to invest one trillion euros for climate protection within 10 years. In an interview with Der Spiegel, Hoyer said: "If we want to achieve our climate protection goals, we're no longer talking about billions, but trillions of euros" and "We can handle that." EU Commission President Ursula von der Leyen had named the climate protection target when she took office. Hoyer assumes that 1 trillion euro EU climate protection measures will trigger investments totalling 4 trillion euro.
Hoyer wants to mobilise additional money on the capital markets. "If we want to finance climate projects worth an average of 100 billion euros per year and the leverage that our investments trigger is around three, then the EIB would have to raise 30 to 35 billion euros per year," the bank boss told Der Spiegel. Already today, 28 per cent of the EIB's loans flow into projects that serve climate protection: "I want it to become 50 per cent in the future".

The EU target of investing 100 billion per year in climate protection was announced by the new head of the EU Commission Ursula von der Leyen at the 25th Climate Conference COP25 in Madrid. The EU is to become climate neutral by 2050. The EU's first climate protection law will be presented in March 2020.

Links
www.zdf.de/nachrichten/heute-journal/europas-green-deal-100.html
https://ec.europa.eu/germany/news/20191202-un-klimakonferenz_de
www.sueddeutsche.de/wirtschaft/klimaschutz-der-billionen-hammer-1.4692867
www.deutschlandfunk.de/praesident-der-europaeischen-investitionsbank-hoyer-politik.868.de.html?dram:article_id=463802
www.spiegel.de/plus/eib-chef-werner-hoyer-der-liberale-der-billionen-fuer-gruene-projekte-beschafft-a-00000000-0002-0001-0000-000165813288

 


Keywords: 100% EEs, Greening / climate adaptation, CO2-neutral, Renewable, Climate protection, News Blog Europe (without DE), SDG 2030, Transition Town, Environmental policy, Ecology
en_GB