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. Indeed, as a public development bank, owned by the EU Member States, the EIB is supposed to promote the EU’s policy with its financial activities. At the same time, the EIB strives for excellence in credit trustworthiness – the famous AAA rating. These two relatively competing impetus (as supporting the EU policy objectives usually means supporting more risky or less profitable projects) are brought together in the Energy Lending Criteria, which set the rules for the EIB to invest in the energy sector so as to maintain its rank as a safe financial actor, and to actively contribute to the EU energy and climate policy.
The current consultation opened by the Bank aims at putting its lending criteria in line with the requirements of the EU 2030 framework, recently adopted through the Clean Energy Package.
EGEC submitted its response to the consultation on energy lending criteria from the European Investment Bank. The Bank should go on to finance projects in line with a decarbonised energy sector by 2050 at the latest and promote the market uptake of innovative technologies it its role as a public development financial institution. It should not finance any fossil energy projects, in the EU or beyond.