Energy Transition

The European Investment Bank is currently in the process of drafting its updated energy lending policy. As the European Union is progressing towards decarbonisation, and the 2050 horizon is nearing quickly, EGEC joined other industry associations and think tanks to call for the EIB to promptly stop funding fossil fuel projects.

Sustainable finance is an increasingly important topic in European policy making. A proposed regulation by the European Commission on this topic will have a major impact on the private financial sector, and its relationship with geothermal and other renewable energy investments.

One of the key issues of the current debate on the next European Commission regards the priorities that should shape its action over the next five years, the matter of ambition for the energy transition is at the foreground.

In the process of the implementation of the Governance Regulation, which defines how the EU targets on climate and energy will be achieved by 2030, Member States have submitted draft National Energy and Climate Plans (NECPs), in which they outline the level of ambition they would pursue in the coming decade, and the policies measure that should enable it.

The EIB’s energy lending criteria are the set of rules, revised regularly, which the Bank sets for its activities to be compliant with the European Union’s policy objectives.

EGEC co-signed a letter in the framework of the discussions on the objective of the European Union for the long-term energy transition.