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Philanthropy Advocacy participated in the European Investment Bank´s Board Seminar with Civil Society

06 February 2020

On Tuesday 4 February 2020, Philanthropy Advocacy participated at the annual seminar organised for an exchange between the European Investment Bank’s (EIB) Board of Directors and civil society organisations at the premises of the EIB in Luxembourg.

The seminar was organised in the framework of the civil society and stakeholder engagement policy of the EIB and as every year, two topics were chosen for thematic sessions. This year, in the view of new policy-makers in the European Institutions and particularly the political priorities of the new European Commission chosen issues were “The European Green Deal and the EU Climate Bank: addressing the critical decade ahead” and “Supporting development through quality employment”. Thus, most of the participants represented CSOs (including several foundations) are working particularly on climate, development and social issues, however some organisations present are working in the area of research, finance or banking.

The EIB presented overview of its progress since the last meeting and outlined its priorities for 2020. The EIB´s achievement, for which it earned a lot of praise during the seminar, was its new climate strategy and energy lending policy. New strategy will end financing for fossil fuel energy projects from the end of 2021 and it counts with 1 trillion of climate action and environmental sustainable investment in the decade to 2030 in order to deliver the European Green Deal ambition of the new European Commission. A session on development and tackling poverty via employment was introduced by the representative of International Labour Organisation.

Participants working on social issues and human rights engaged in the discussion about the social impact assessment done by the EIB while choosing the particular project, during its implementation and after the project is completed. Different topics were raised in the discussion, including the Invest EU programme proposed by the European Commission to boost private and public investment in Europe in the next Multiannual Financial Framework (2021-2027).

During the seminar the CSOs were also reminded about other forms of possible engagement with EIB, such as the public consultations on its key policies. For 2020, the EIB has planned to open a public consultation on its transparency policy and anti-fraud policy. Philanthropy Advocacy will continue to monitor and engage around the EIB´s policies.

Author: Nikoleta Bitterova