Reaching the Paris Agreement’s goals is possible but relies on scaled-up collective ambition

The European Investment Bank (EIB) is preparing to attend the 24th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP24) in Katowice from 3 to 14 December, where governments will come together to adopt a rulebook on implementing the Paris Climate Change Agreement.

During the conference, the EIB, as the biggest multilateral financier of climate as well as environmental funding, will present solutions with its partners to support a climate-resilient society and help deliver international commitments to keep global warming below 2˚C and mobilise USD 100 billion for climate action annually by 2020.

Ahead of COP24, Jonathan Taylor, EIB Vice-President responsible for climate action and environment said: “Climate action is key to driving innovation, economic growth and job creation in Europe and beyond. As the EU Bank, we support the EU’s commitment to a clean energy transition and welcome the EU vision for a climate neutral Europe by 2050 adopted yesterday. In doing so, we pay particular attention to the so-called just transition. This means supporting the shift to a more sustainable future for regions and local communities, who in the past were dependent on carbon-intensive activities. Multilateral financial institutions like the EIB have a vital role to play to help channel private capital needed to reach the Paris Agreement and the Sustainable Development Goals. But no one can tackle the climate challenge alone, that’s why we are working closely with our partners on every continent”.

The EIB will be announcing new support for green transport and energy efficient buildings in Poland. It will also present the latest findings of its 2018 Citizens Survey on Climate, developed in partnership with YouGov, the global public opinion and data company, reflecting citizens’ attitudes and expectations towards climate action.

Original source: EIB
Published on 29 November 2018