The European Investment Bank has been working towards becoming the world’s first climate bank through the adoption of a new energy lending policy that reflects its ambition on climate action and environmental sustainability.

“Climate is the top issue on the political agenda of our time,” said Werner Hoyer, the EIB’s President.

The Bank’s actions are guided by the principle of “leaving no one behind” and reflect the bloc’s commitment to finance a 50% increase by 2050. Achieving a more inclusive transition for all regions is pivotal for the EU, considering the economic asymmetries and different capacities throughout the 28 member bloc.

The framework by the EIB calls for the provision of €1 trillion to support environmentally sustainable investment for 2021-2030, part of the financial needs for the transition to a low carbon future.

EIB’s climate survey

Following the interest shown in the first edition of its climate survey, the EIB launched a second edition, conducted in partnership with the market research firm BVA, which is aimed at informing the broader debate on citizens’ attitudes towards climate action in the European Union, the US, and China.

“Listening to citizens’ attitudes is key for us to make sure we address their concerns while leaving no one behind,” commented Emma Navarro, EIB Vice-President.

For the survey, 30,088 people in Luxembourg between the ages 15-29 were interviewed online from September 21-October 19. The results revealed that almost half of those interviewed (47%) see climate change as the number one issue facing the world tody, while only 24% believe that they will have to move abroad because of climate change, and only a small percent do not believe in climate change.

The survey highlighted a pivotal shift from the opinions that were given two years ago when climate change was less important for many Europeans compared to international terrorism.

According to the findings, residents of EU countries remain more sceptical than the Chinese when it comes to fighting climate change: 59% of Europeans and 54% of American citizens see it as reversible, while in China, this percentage is 80%.

Of those Europeans interviewed, 69% believe that their own behaviour can make a difference in tackling climate change, while 73% of young Europeans support believe they can make a difference that will reverse climate change.

The respondents (39%) named healthcare, unemployment and political instability as their biggest concerns.