At the World Bank Spring Meetings 2018, while on a panel on Climate Resilience, the VP of the European Investment Bank (EIB), realized "how sometimes stupid we are when we wait until the last moment, until bad things happen" in order to take action.
I asked if this applies to the EIB’s contribution to climate change.
He was stunned when I directly asked, "Why hasn't the European Investment Bank reduced the 25% of its portfolio in fossil fuels."
Since 2013 the EIB has given EUR 14 billion in direct support to fossil fuels. As the Bank of the European Union and the largest public lender its policy should reflect the EU's commitment to the #ParisAgreement. That means its time it abandons fossil fuels & shifts its funds to clean energy.
This video was distributed by Big Shift Global and Counter Balance and other development professionals to mobilize support for the #FossilFreeEIB, encouraging people to sign add their name to a petition of 15,000 people that was submitted during the public consultation on the EIB’s Energy Lending Policy - defining which kind of energy projects the bank will finance.