Last week, European Investment Bank (EIB) president Werner Hoyer urged faster action to combat global warming and the extreme weather events it causes, as the U.N.’s Intergovernmental Panel on Climate Change issued a dire new warning in its latest report.
“We need to invest massively in climate adaptation and mitigation,” said Hoyer. “The quicker we make our transition to a green economy, the less disruptive it will be and the quicker humanity will be set up to cope with the kind of weather that’s causing such destruction in Europe and elsewhere.”
Last year, the EIB unveiled in its Climate Bank Roadmap its detailed plan for an increase in climate and environmental sustainability investment to 50 percent of its annual lending by 2025, from 40 percent in 2020. That’s part of the E.U. bank’s commitment to suppor