Support to low-carbon and climate resilient growth globally is a key priority for the EIB. The EIB supports low-carbon and climate resilient growth in Europe and in developing and emerging countries outside Europe.
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Moreover, EIB funding acts as a catalyst to mobilise finance for climate action, encouraging others to match its long-term investment. The EIB complements innovative financing instruments with a range of technical assistance tools to provide rounded solutions for commercially promising climate initiatives. As part of the Climate Change and Environment Division, GEEREF has ready access to the teams developing and implementing traditional and innovative climate action financing instruments and equity infrastructure activities.
The European Investment Fund's central mission is to support Europe's micro, small and medium-sized businesses by helping them to access finance. In addition, freight transport must be shifted more from road to rail and electrification concepts for local transport must be implemented quickly. The resulting sharp drop in energy consumption must be covered by renewable energies.
These must always be developed in accordance with nature conservation criteria. The focus must be on solar and wind energy, since hydropower and biomass are already being used to the limits of nature compatibility. It lacks an integrated approach and fails to give concrete details on policy measures, timing, scope and financial needs. With the backlog Belgium carries along with regards to its targets, Belgian governments seriously need to step up their ambition for and beyond.
It is time to commit to carbon neutrality latest by , push for an increased EU ambition and put policy measures in place to reach the objectives it committed to when it signed the Paris Agreement. Finally the local usage of coal and nuclear is not well defined and explained and there is needs to be further developed and explained why those issues are questions on national security. Thus we have a reason to expect significant improvements to be made and a public consultation to be arranged before the delivery of the final plan. In order to comply with the 1.
The missing plan to phase out fossil fuel subsidies should of course be added too. We share the concerns of the Commission regarding the sustainability of the use of the biomass and the need for additional information about LULUCF sector, since increased logging rates have significantly reduced forest carbon sinks. The French government has to take additional measures in the building and transport sectors to honour its climate budgets. It confirms what WWF has already pushed for: France has to put urgently energy refurbishment and mobility decarbonisation as a priority, with concrete actions to be integrated into the national regulations currently under discussion.
However, the government failed to do the tangible and necessary next steps so far, which is reflected in the planning.
As the European Commission highlighted, the renewable and energy efficiency targets are weak and not ambitious enough. Biomass is already playing a significant part of the renewable mix, and the NECP plans to exploit it more. However, there is not a single word mentioned about its sustainability securement. The government will have a busy half year, if they intend to fulfil properly the recommendations. The big problem that is also emerging is the overestimated investments in infrastructure and new gas capacity.