European Investment Bank to support 1 trillion euros of climate action

New York: At the UN Climate Action Summit 2019 and the UN General Assembly, the European Investment Bank (EIB), the EU Bank, on Saturday announced to unlock and support 1 trillion euros of climate action and environmental sustainable investment in the decade to 2030.

The focus is with increased support for climate change adaptation and climate-resilience. To do this by delivering at least 50 per cent of EIB finance for climate action and environmental sustainability by 2025, a statement by the bank said.

At the UN Climate Action Summit, it will be discussing its new ambition for climate action with delegates from countries, business, the private sector and civil society.

“We have just over 10 years to turn the tide on the climate and environmental emergency. We are putting our natural resources, our economies, our communities and our way of life at risk, potentially creating an unmanageable situation for the next generation,” said EIB President Werner Hoyer.

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