The EIB promotes environmental sustainability - as well as closely related social well-being - in support of the EU policy on sustainable development. The general approach of the Bank in this regard is described in the Operational Strategy, various documents on Corporate Responsibility and most recently in the latest revision of its Environmental and Social Statement, entitled The EIB Statement of Environmental and Social Principles and Standards.
The EIB has three main objectives for defining its environmental and social responsibility:
- the first is to ensure that all the projects that it finances are compliant with EU environmental principles and standards.
- The second main objective for the Bank is to promote specific projects that protect and improve the natural and built environments and foster social well-being, in support of EU policy, as elaborated in the Sixth Environmental Action Programme (EAP) "Environment 2010: our future, our choice.
- Thirdly, the Bank seeks to manage its environmental footprint, not just in terms of "housekeeping" but also with regard to the projects that it finances.
Environmental lending
In 2009, the EIB signed loan agreements for 176 environmental projects, amounting to EUR 25.3bn, which represents 32% of its total lending (2008: EUR 18bn for 150 environmental projects).
The bulk of environmental lending went to EU countries: in 2009 the EIB provided direct financing for 152 environmental projects for a total of EUR 23.6bn in the European Union. These figures do not include environmental components of projects where the overall objective is not directly related to the environment. This component is currently not recorded by the Bank. Within the EU, most of the funding went to climate change, environment and health and sustainable transport.
In the Enlargement Countries the volume of environmental protection projects was EUR 695m. In the Mediterranean partner countries, EUR 446m was advanced for environmental schemes. A further EUR 89m went to environmental projects in the ACP countries (including South Africa), EUR 410m to projects in Asia and Latin America, and EUR 18m to the Neighbourhood Partner Countries to the East.
Some examples of projects financed in 2009:
- Egypt: the Integrated Water and Wastewater Services Programme (IWSP), concerning water supply and wastewater investments in four governorates in the Nile Delta, received a EUR 70m loan. The IWSP loan is essentially a single-sector framework loan, comprising about 100 sub-investments. The programme will contribute to improving the environment and living conditions of approximately 4 million people. By providing a safe and reliable water service and improving sanitation, it will reduce the incidence of water borne diseases, promote better hygiene conditions and improve environmental conditions.
- Spain: a EUR 80m loan to GEMASOLAR 2006 SAU in Spain to finance the implementation of a small-scale concentrated solar power (CSP) system with a nominal electrical capacity of 17 MWe in "La Monclova", municipality of Fuentes de Andalucía. The new plant will represent the first commercial application of CSP technology and the only existing commercial-scale solar power demonstration project based on a central tower receiver and heliostat field and an innovative molten salt heat storage system. This project will provide 25 000 households with clean and secure energy, help reduce CO2 emissions, and employ 1 000 workers for the construction of the plant.
- United Kingdom: with a GBP 182m (EUR 200m) loan, the Bank supports is helping the Greater Manchester Waste Disposal Authority to build and maintain an integrated waste management service for the treatment and disposal of municipal waste. One of the first examples of a partnership between public- and private partnership partners (PPP) in the waste sector, this project is expected to have a positive environmental impact on the communities living in and around Manchester allowing for the phasing out ofby enabling the practice of landfilling untreated waste to be phased out. Moreover, by adopting an integrated waste management service, Greater Manchester aims to increase recycling and composting levels in the region, which have historically have been low compared to the national average.
- Montenegro: a EUR 27 m loan in favour of the solid waste management sector aims at supporting the first phase of the creation of a national sustainable solid waste management system in line with EU standards and directives in Montenegro. The project consists of inter-municipal sanitary landfills, transfer stations, recycling facilities and the rehabilitation of some 30 dumpsites. With the creation of a nationwide solid waste management system, the investment is expected to help reduce water and soil pollution
