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The EIB invests in the development of "green" energy 1 trillion euros

Main / Ukraine / Europe

European Commission President Von der Leyen said that he would do everything possible to ensure that Europe became the first climate neutral (not affecting the climate) continent by 2050.

The EIB invests in the development of "green" energy 1 trillion euros

the European investment Bank (EIB) has planned 1 trillion euros of investments in energy efficiency projects, clean energy and "green" innovations in the period from 2021 to 2030.

in addition, the EIB intends to gradually increase the share of funding environmental projects up to 50% by 2025 and to cease funding projects on the use of oil, gas, coal in 2021.

this is stated in an ambitious new strategy, the EIB, the priority of which is prevention of climate change and energy decarbonisation.

As noted by the Bank, in 2013 the EIB provided more than 13 billion euros for projects using traditional energy resources. In 2018 the amount of funds in this direction amounted to only EUR 2 billion.

At the same time, in 2013-2018 the Bank allocated 28 billion euros for renewable energy projects.

"Europe sends a clear signal that it intends to move away from investment in fossil fuels towards climate-neutral future that the people want. The EIB sends a message to other financial institutions that investment in fossil fuels is over," said Nick Mabe of the analytical centre of Brussels on climate change.

According to estimates by environmentalists, in the period from 2013 to 2018 EIB were daily given 6.2 million euros to the companies operating on fossil fuels.

the EIB is the world's largest Issuer of green bonds and helping countries in the organization of markets in this area.

this Summer, the Chairman of the Saee Serhiy Savchuk with the Chair of the Permanent mission of the EIB in Ukraine Jean-Eric de Soonam discussed the implementation of the market for green bonds in Ukraine.

According to the EIB green bonds can be a promising and effective tool for enhancing investments, particularly in renewable energy. At the same time, the regulatory framework of the country must comply with international principles and standards. Then it can be an effective signal for institutional investors to enter Ukrainian market.

the Pioneer host of "green" bonds are among the companies working in Ukraine, became the Netherlands DTEK Renewables B. V. (DTEK renewables), which in early November, placed its first issue of the standard "green" Eurobond in the amount of 325 million euros.

fundraising should enable DTEK to implement a renewable energy plan to expand its installed capacity of wind and solar power plants to 1.9 GW, compared to about of 0.95 GW, expected by the end of this year.

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