United Nations Framework Convention on Climate Change (COP24)

Reaching the Paris Agreement’s goals is possible but relies on scaled-up collective ambition, says EIB Vice-President Taylor ahead of COP24

New loans for Poland supporting the transition towards a low carbon economy
Results of the first EIB-YouGov Citizens Survey on Climate
Mobilizing finance to meet Paris goals with multilateral development bank partners

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 mobilize 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”.

EIB representatives will join fellow financiers, policymakers and civil society to debate the decarbonization of cities and regions in transition, renewable energy, and technology, circular economy, sustainable transport, clean oceans, water and forests. Events will stress the need to crowd in the private sector for climate projects and to promote transparency in climate and environmental finance while aligning with the Paris Agreement.

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.

Join the EIB at COP24

Come and join us at the pavilions of the EIB/Benelux and of the multilateral development banks (MDBs) to speak to EIB experts on how the EU bank can help meet the challenge of mobilizing adequate finance to meet the goals of Paris – as well as supporting a “just transition “ from coal dependency to a low carbon economy .

The EIB delegation consists of high-level experts and officials and is headed by Vice-Presidents Jonathan Taylor, Vazil Hudák and Emma Navarro. They, as well as EIB Chief climate change expert Nancy Saich; Head of Climate, Social and Environmental Policy Monica Scatasta; and Martin Berg Head of Innovative Climate Finance, will be available for interview. There will also be a press briefing on the 4th of December at 8:45 in EIB/Benelux pavilion.

Key events in the EIB/Benelux and Multilateral Development Banks (MDB) pavilions:

The role of finance in re-inventing coal and carbon-intensive regions, with EIB Vice-President Hudak: 03/12/2018 14:30 – 16:00, EU Pavilion
The signing of new climate action loans for Poland, 03/12/2018 15:00, EIB/Benelux pavilion
Press briefing: 04/12/2028 8:45, EIB/Benelux pavilion
Embarking on a low-carbon future: how the EU Bank is supporting the international agenda: 04/12/2018 09:00 – 10:00, EIB/Benelux pavilion
Aligning with the Paris Agreement: MDBs join forces, 07/12/2018 15:30 – 17:00, MDB pavilion
No Green without Blue – how to scale up finance for #OurOceans: 08/12/2018 13:15 – 14:45, EIB/Benelux pavilion