EIB and European Environment Agency deepen cooperation over biodiversity and climate action

The European Investment Bank (EIB) and the European Environment Agency (EEA) will strengthen collaboration to promote climate action, environmental sustainability, and sustainable finance. In a new agreement, the EIB and the EEA pledged deeper cooperation in technical areas including biodiversity, climate adaptation, circular economy, and urban sustainability.

The Memorandum of Understanding (MoU) will allow the EIB to use the EEA’s expertise in data and modeling when evaluating projects and measuring the impact of the Bank’s financing. For its part, the EEA will be able to integrate the EIB’s sustainable finance expertise in a way that makes European environmental data more useful to the broader financial community.

“We need the best available data and knowledge to address the triple planetary crisis of biodiversity, climate change, and pollution,” EIB Vice-President Ambroise Fayolle said. “That’s why we are reinforcing our partnership with the European Environment Agency. We will work on methodologies and technical approaches that will help to enhance the impact of our projects to accelerate the green transition worldwide.”

“Scaling up and re-orienting financial flows in a more sustainable direction is a pre-requisite for meeting our environment, climate, and sustainability objectives under the European Green Deal. Enhanced cooperation between the European Environment Agency and the European Investment Bank will boost our common knowledge base across a wide spectrum of areas to further support the transition towards a more sustainable and competitive European economy,” said EEA Executive Director Leena Ylä-Mononen.