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EUROPEAN INVESTMENT BANK GROUP
2020
SUSTAINABILITY REPORT
THE 2020 SUSTAINABILITY REPORT provides an overview of the European Investment Bank Group’s operations and impact in supporting sustainable and inclusive growth in Europe and across the globe.
This report was prepared in accordance with the “comprehensive” option of the Global Reporting Initiative (GRI) Standards and should be read in conjunction with the “Sustainability Reporting Disclosures 2020,” a separate document available on the European Investment Bank (EIB) website. The disclosures address relevant topics in a standardised and comparable form. They are meant for professional users of sustainability reports, such as financial and environmental, social and governance (ESG) analysts, civil society organisations, members of the academic community and any other interested parties.
The choice of topics follows a materiality assessment conducted in 2018 involving internal and external stakeholders to identify the topics of material importance to be included in the EIB Group’s reporting.
To accompany the Sustainability Report and GRI standards, we also published in 2020 a set of disclosures in accordance with the Sustainability Accounting Standards Board (SASB) framework, as well as the Group’s first report in line with the recommendations of the Task force on Climate-related Financial Disclosures (TCFD).
The EIB Group commissioned its external auditor, KPMG, to provide limited assurance on selected statements and figures in the Sustainability Report. These statements are marked with
We trust readers will find the information in this report interesting and relevant. We welcome any comments or questions, which should be addressed to: [email protected].
About the European Investment Bank
The European Investment Bank is the world’s biggest multilateral lender. The only bank owned by and representing the interests of the EU countries, the EIB finances Europe’s economic growth. Over six decades the Bank has backed start-ups like Skype and massive schemes like the Øresund Bridge linking Sweden and Denmark. Headquartered in Luxembourg, the EIB Group includes the European Investment Fund, a specialist financer of small and medium-sized enterprises.
CONTENTS
CLIMATE BANK ROADMAP: PUTTING THE PARIS AGREEMENT INTO PRACTICE
CLIMATE AND SUSTAINABILITY AWARENESS BONDS: PROVIDING CLARITY FOR INVESTORS
EMBEDDING SUSTAINABILITY IN OUR PROJECT DUE DILIGENCE AND RISK MANAGEMENT PROCESSES
CARBON FOOTPRINT OF EIB FINANCING
BIODIVERSITY: PUTTING NATURE AT THE CENTRE OF THE SUSTAINABLE DEVELOPMENT AGENDA
THE EIB GROUP’S ACTIONS TO ADDRESS SOCIAL INEQUALITIES
OUR 2020 CONTRIBUTIONS TO THE SUSTAINABLE DEVELOPMENT GOALS
THE EUROPEAN INVESTMENT FUND SUPPORTS FRENCH FARMERS IN THE GREEN TRANSITION
TRANSPARENCY AND ACCOUNTABILITY
COMMUNITY ENGAGEMENT: THE EIB INSTITUTE
FOREWORD
Werner Hoyer President European Investment Bank
Alain Godard Chief Executive European Investment Fund
For most of the world, 2020 was a difficult year. One that was dominated by the coronavirus pandemic, the threats of climate change, catastrophic biodiversity loss and a growing awareness of systemic inequalities. As we struggle to recover from the coronavirus pandemic, we must remember the importance of continuing on our path towards a greener, more inclusive and just society, which focuses on the long-term sustainability of our planet and economy. At the EIB Group, we are delivering financial instruments and advisory services that support sustainable and innovative green activities in Europe, from large-scale corporate investments, to test plants featuring new technologies, to university spin-offs and start-ups.
While the COVID-19 crisis is putting countries across the globe under pressure, solutions for the health crisis are on the horizon, even if the economic consequences could last considerably longer. To address the pandemic, the EIB Group approved a €25 billion response package, leveraging existing EIB and European Commission resources to support the people affected and to deal with the immediate economic fallout. Our largest initiative, the European Guarantee Fund (EGF), will allow us to further unlock up to €200 billion of financing for European companies, in particular for the small