Verbatim report of proceedings

Wednesday, 18 January 2023 - Strasbourg

Control of the financial activities of the European Investment Bank - annual report 2021 (debate)

  Viola von Cramon-Taubadel, on behalf of the Verts/ALE Group. – Madam President, colleagues, and also a big thank you to you, Madam Commissioner, for your warm words regarding the unbearable tragedy which we have seen today in Ukraine. But of course, the war we are facing now is affecting our work and our life everyday.

It’s not easy to come back to this rather technical topic now regarding the annual report of the EIB’s activities in 2021, which was very detailed and which reflects the challenges of that year still in pandemic mode and with the institution expanding. However, there are areas where the Greens have been repeatedly calling on the EIB to take decisive actions.

Firstly, we want to underline the importance of green and sustainable investment – it was mentioned. While the EIB has increased its support for renewables and an energy efficiency project, it still provides significant funding for fossil fuel investments. This is concerning, as the EU has committed to reach net-zero greenhouse gas emissions by 2050. Mainstreaming of green investment and not spending money on anything that has a negative climate impact must remain a priority so that the EIB becomes truly the EU’s climate bank.

The report also fails to provide sufficient information on social and environmental effects to the EIB’s investments. It is of the utmost importance that the transparency of use of public funds clear (sound ends abruptly). Action. While the EIB annual report highlights some positive developments, it is clear that there are also areas for improvement.