EU Climate Bank - Greenwashing or Banking Revolution?

In this eighth episode, Clara Bourgin, research and policy assistant at Counter Balance digs into the recent commitments taken by the Europe Investment Bank (EIB) – the lending arm of the European Union – to become the “EU Climate Bank”.

Back in November 2019, the EIB took the groundbreaking decision to phase out its support to fossil fuels and to align all its operations with the objectives of the Paris Agreement by the end of 2020. As a result, expectations around the EIB are high. 

Still, the Bank has yet to deliver on its commitments. A new report published yesterday  by Counter Balance shows that it is too soon to call the EIB the “EU Climate Bank”. The report “EU Climate Bank: Greenwashing or Banking Revolution?”  sheds light on the numerous environmentally and socially detrimental projects that are still supported by the Bank and highlights key steps needed for the EIB to deliver on its commitments.

Will the EIB truly align itself with the Paris Agreement and put the European Green Deal at the heart of its investments? Or will it be yet another performance of the not so noble art of greenwashing? 

Both CEO and Counter Balance raise awareness on the importance of good governance in the European Union, by researching issues like lobbying of large and powerful industries, corporate capture of decision making, corruption, fraud, human rights violations in areas like agro-business, biotech & chemical companies, the financial sector & public investment banks, trade, energy&climate, scientific research and much more…

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