EIB launches public consultation to redefine their transport lending priorities
The European Investment Bank (EIB), as one of the largest financiers of European transport infrastructure and mobility solutions, today launched a new public consultation on its support for the sector.
The aim is to redefine priorities for EIB support within the framework of its pioneering Climate Bank Roadmap and to strengthen the impact of its future transport investment. The public consultation will end on 29 October 2021.
Transport: A changing and challenged sector
Record-breaking temperatures and extreme weather across Europe and the world this summer leave little doubt that the planet has entered a make-or-break decade on climate.
There has been a steady overall reduction in greenhouse gas emissions in the European Union in recent years. However, the transport sector has not followed this general trend and, as a result, its relative contribution to overall greenhouse gas emissions in Europe has increased. Therefore, although action is needed in all sectors, it is critical in the transport sector.
“Transport needs to go green as fast as possible. Sectors like construction, electricity generation, and agriculture now emit much less than they did in 1990, while transport emissions have increased by 33%. We need to act boldly to accelerate the transition to sustainable and more resilient transportation,” said Kris Peeters, EIB Vice-President responsible for transport.
“That is why we are keen to listen to citizens, partners, NGOs and the industry to get their perspective on what the transport investment priorities of the EU climate bank should be in the critical decade up to 2030. The consultation helps us to strengthen the impact of our future activities in support of transport and mobility that are both accessible and efficient — as well as green and safe — for a truly sustainable transport system.”
In addition to the green transition, the transport sector must also become safer, more efficient and accessible to all users regardless of their location or socioeconomic status.
With almost two-thirds of its transport support already dedicated to sustainable transportation and mobility, the EIB aims to increase this share further. The new Transport Lending Policy will be based on and implement the Climate Bank Roadmap; and align with the European Commission’s recently published Sustainable and Smart Mobility Strategy. It will also adapt to the emerging EU Sustainable Finance Taxonomy.
The public consultation — the first public consultation on the EIB’s transport sector lending policy since 2011 — will be crucial in identifying the major challenges in the transport sector, and thus the priorities that call for EIB and public support to develop a new, resilient and more sustainable transport system.
The public consultation process
Over the next three months, the EIB will engage with a wide range of stakeholders, including industry associations, civil society and the private sector to review the priorities of its transport lending policy.
Dialogue with stakeholders will reflect on recent EIB support for sustainable transport and consider key trends and investment challenges the sector is currently facing. To guide and inspire the discussion and solicit stakeholder views, the EIB has prepared a consultation document and a comprehensive set of questions.
An online public consultation meeting will also be organised on 14 October 2021 to enable stakeholders to engage in a direct dialogue with EIB staff on the issues at stake. The consultation document and questions can be found on the public consultation website and information about the online consultation event will be made available shortly.
The deadline for submitting contributions is 29 October 2021. The draft revised Transport Lending Policy, including information on the public consultation process and on how its outcomes were taken into account, will be published and presented to the public and the Bank’s governing bodies in the first quarter of 2022.
More details and background information about the public consultation on the EIB Transport Lending Policy can be found here.