Brussels, 02 March 2020 - The European Investment Bank (EIB) and the United Nations Environment Programme (UNEP) today agreed to deepen their cooperation to enhance climate and environmental actions.
The Memorandum of Understanding was signed in Brussels at a meeting between Under-Secretary-General of the United Nations and Executive Director of UNEP, Inger Andersen, and the EIB Vice President responsible for Climate Action and Environment, Emma Navarro.
The focus of the strategic cooperation will be on climate change, conservation, protection, enhancement and support of nature and natural resources, including biological diversity worldwide and circular economy. A priority will be identification of a new pipeline of investment projects in the field of environment and climate change.
“The climate emergency is the defining issue of our time. Now we must widen the debate and increase awareness of threats to nature and biodiversity and the impact they have on our lives,” said EIB Vice President Emma Navarro. “Annual global funding needed for safeguarding nature is estimated to be between USD 300-400 billion while the current flows remain around USD 50 billion. We need to work together to bridge the investment gap. We are very pleased to join forces with UNEP, the leading United Nations agency in the field of climate action and environment.”
“As we face existential crises – of nature and climate – our best chance to reverse the damage humanity has done and to leave future generations a liveable future is to work together to address these global challenges,” said Inger Andersen, Executive Director of UNEP. “We are proud to join hands with the EIB to take action towards a healthier, more sustainable planet.”
The world is facing unprecedented climate and environmental challenges. The year 2020 is crucial to start delivering solutions to climate change, biodiversity loss and pollution. Science, policy responses and investments need to go hand-in-hand. This strategic partnership between UNEP and EIB comes at a crucial time, when scaling up financing for these transformations is essential.
NOTES TO EDITORS
About the European Investment Bank (EIB)
The EIB is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. As the EU’s climate bank, the EIB has committed that at least 50% of its lending will support climate action and environmental sustainability by 2025 – an increase from around 30% today. By 2030, the EIB Group plans to support €1 trillion of climate action and environmental sustainability investments. In addition the EIB Group will align all its financing activities with the principles and goals of the Paris agreement by the end of 2020.
About the UN Environment Programme (UNEP)
UNEP is the leading global voice on the environment. It provides leadership and encourages partnership in caring for the environment by inspiring, informing, and enabling nations and peoples to improve their quality of life without compromising that of future generations. UNEP works with governments, the private sector, civil society and with other UN entities and international organizations across the world.
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