This page is part of the E3G Public Bank Climate Tracker Matrix, our tool to help you assess the Paris alignment of public banks, MDBs and DFIs.
| Paris alignment | Reasoning |
|---|---|
| Not applicable | The EIB does not have specific strategies to guide its country-level work. |
Explanation
The EIB does not appear to have specific country strategies to guide its work.
The EIB’s Climate Strategy states the EIB is involved in “advising” or advisory work to Africa, Pacific and Caribbean (ACP) countries.
The EIB advisory services are available to sub-national, national and regional governing bodies as well as private bodies working at the country level, and services include “feasibility and market studies, programme structuring, energy audits, project preparation and implementation support”.
The Bank’s Climate Bank Roadmap Position Paper commits all of the Bank’s advisory services to aligning with the Paris Agreements principles and goals from the beginning of 2021, and its self-proclaimed role is to “help deliver the EU Member States’ climate policy objectives and take action vis-à-vis future generations and societies already affected by climate change”.
It would be useful to receive further clarification from the EIB as to the background to this and to get clarification from the EIB if any other strategy or strategies (e.g. financing quotas by Member State or region outside the EU) inform its country-level interventions in the climate space, and how NDCs are considered in its investment decisions on a country level.
At COP26, EIB signed a joint set of eight MDB principles for Long-Term Strategy support to help public and private sector clients design and implement LTSs for low-carbon, climate-resilient development with increased ambition over time. No date is mentioned by which MDBs need to have implemented these principles into their strategies.
Recommendation: In light of the Bank’s trajectory, the EIB should consider increasing its provision of climate-related advisory services to national governments, and consider whether it would be appropriate to put in place country strategies. The EIB should be more proactive in supporting advice and technical assistance on long-term mitigation and adaptation strategies at a country-level. The existing European Investment Advisory Hub (EIAH) is designed to act as a single access point to various types of advisory and technical assistance services, the EIB should consider strengthening it with national government stakeholders in mind.
Last Update: January 2022