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Parliamentary question - E-003404/2013Parliamentary question

EIB energy policy review and the Commission's position

Question for written answer E-003404-13
to the Commission
Rule 117
Bas Eickhout (Verts/ALE)

In 2011 the European Investment Bank (EIB) invested EUR 13 billion, or 20% of the bank’s budget, in energy projects. Parliament has repeatedly called on the EIB to change its energy lending policy and to bring its operations fully into line with EU objectives for a swift transition to a low-carbon economy[1].

The review of EIB energy policy therefore provides a unique opportunity to ensure that future investment decisions are in line with EU climate and energy targets.

1. What is the Commission’s position on the EIB energy lending policy review? What role does the Commission think the EIB should play in the EU’s transition towards a resource-efficient and renewables-based economy in the long-term perspective (2050) and how does this analysis of the EIB’s role translate into concrete recommendations for its energy policy review?

2. Does the Commission share the EIB’s view that investments in fossil fuel power plants can have a potentially positive impact in achieving the EU’s climate objectives? If not, will the Commission actively push for a phase-out of lending to energy investments that are incompatible with the EU’s climate objectives and, in particular, with the Roadmap for moving to a competitive low carbon economy in 2050 (COM(2011)0112 final)?

3. Does the Commission share the view that EIB investment in demand-side energy efficiency and new renewable energy sources can contribute to the security of energy supply by reducing EU dependency on imported hydrocarbons and focusing on competitiveness and sustainability?

4. With the upcoming publication of the Commission’s green paper on 2030 targets, how does the Commission intend to encourage the EIB to take on board long-term targets for its energy and climate lending?

OJ C 12 E, 16/01/2014