Transcript EIB and Climate Good start but new steps are needed

EIB and Climate Funding
Petr Hlobil
24.10.2010
www.bankwatch.org
EP 2007 Resolution on Trade
and Climate Change
 „Calls for the discontinuation of public support, via
export credit agencies and public investment banks, for
fossil fuel projects and for the redoubling of efforts to
increase the transfer of renewable energy and energy
efficient technologies;“
 ´“Asks the Commission and the Member States to
propose legislative instruments in order that Member
State export credit agencies and the [EIB] take account
of the climate change implications of the funded
projects when making or guaranteeing loans and impose
a moratorium on funding until sufficient data are
available, in accordance with advice from the OECD, the
G8 and the [EIR];”
29 November 2007
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EIB Energy generation target
 50% of their energy generation portfolio by 2010
F os s il fuel lending as a part of energ y g eneration,
2002-2008
8 000 000 000
7 000 000 000
6 000 000 000
5 000 000 000
4 000 000 000
3 000 000 000
2 000 000 000
1 000 000 000
0
2002
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2003
2004
energy generation
2005
fos s il fuels
2006
2007
2008
EIB Fossil Fuel Lending
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Non-EU lending
Non-E U E IB lending
1800
1600
1400
billion E ur
1200
1000
800
600
2007
400
200
2003
2004
2005
2008
2006
2002
0
2002
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2003
non-renewable
2004
2005
2006
trans mis s ion renewable
2007
2008
Next Steps
 Set the target for the overall portfolio
 Adress the energy security issue:
Energy Grab Campaign
 External Lending Mandate
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More info:
http://bankwatch.org/documents/changing_the_climate.pdf
Petr Hlobil
[email protected]
CEE Bankwatch Network
Na rozcestí 6
190 00 Praha 9
Czech Republic
www.bankwatch.org