Tell the EIB: The EU’s biggest public bank must #StopFundingFossils

Send Your Message

Your letter will be delivered to the Board of Governors and Directors of the European Investment Bank:

On the heels of the recent IPCC Special Report on 1.5ºC, the science is crystal-clear: To avoid the worst impacts of climate change, we must stop building new fossil fuel infrastructure.

As the “EU’s Bank” and world’s largest multilateral lender, I believe the EIB can be a real climate leader. At the UN climate talks in Poland, the EIB again committed to aligning its finance with the Paris Agreement. Aligning with Paris means we can’t afford to lock in fossil fuel dependency by spending scarce public money on gas pipelines which could operate for decades.

Next year’s review of the EIB’s energy lending criteria is a crucial opportunity to show the other multilateral development banks that true “Paris alignment” means an end to fossil fuel finance, while capitalizing on the opportunities presented by the rapid decline in renewable energy costs.

We’re banking on your strong leadership. Without it, too many financial institutions will carry on with business as usual. But if the EIB sends a strong signal, other investors will follow suit. EIB, it’s time to stop funding fossils and support a cleaner, healthier Europe.

    Not ? Click here.
    By taking this action, I consent to join this email list and attest that I am 18 years of age or older. The personal data that I provide will only be used for communicating by email. I understand that I can unsubscribe at any time, and can request destruction of any personal data provided.

    At the climate talks taking place in Poland, our team joined meetings and panels with senior staff of the European Investment Bank (EIB) – the world’s largest multilateral lender – pushing them to stop funding fossils.

    We need your help to amplify that demand, because the EIB is in a position to finally end its financing of fossil fuels once and for all.

    In January, the EIB will begin a formal review of its energy lending strategy. Last week, the EIB joined other big banks onstage at the climate talks and promised to align its finance with the Paris Agreement.

    It’s up to us to tell the EIB that aligning with Paris means no more taxpayer-backed finance for gas, oil, and coal. If the EIB sets a clear example, other big public banks will follow its lead – so this is a crucial moment to raise our voices for justice and climate safety.

    In one of our panels at the climate talks, an EIB representative said the bank wouldn’t advise anyone to invest in new gas infrastructure, because renewable energy costs are dropping so quickly. Let’s tell the EIB to heed its own advice and end handouts to the fossil fuel industry.