During the 74th session of the UN General Assembly, the president of the European Investment Bank, Werner Hoyer, has announced on 25 September more than $1.1 trillion of climate action and environmental sustainable investment in the decade to 2030, with increased support for climate change adaptation and climate resilience.

The project will aim to deliver at least 50% for climate action and environmental sustainability by 2025.

Hoyer also added that the EIB Group aims to align its financing activities with the goals of the Paris Agreement by the end of 2020.

After the European Council invited the EIB to step up its activities in support of climate action, Hoyer welcomed the vision of soon-to-be president of the EU Commission, Ursula von der Leyen, as well as the support of French President Emmanuel Macron, to strengthen the EIB as the EU’s Climate Bank.