Our website uses anonymised cookies to give you the best browser experience and to collect aggregated statistics. This partnership is also a signal for other cities in Europe.”. In 2018, Vienna joined the Covenant of Mayors for Climate and Energy, an EU initiative set up by the European Commission. 1. The European Investment Bank (EIB) and Brenmiller Energy, an Israeli provider of industrial energy storage solutions, have signed a €7.5 million financing agreement to back the company’s construction of the first large-scale factory for its bGen storage unit. A sandwich lunch will start at 12:30 followed by the dialogue from 13h00 until 14h15. If you agree, this website section will also include third-party cookies used in online advertising. This partnership with the European Investment Bank will enable us to implement further major climate action and adaptation projects in the future,” he said during the signing ceremony at Vienna City Hall. The budget is partly financed by the European budget, but the Commission also heavily relies on private investments. A second tool is the EIB, which should be reformed to adapt its mission and truly transform it into the EU’s climate bank. But in the EU they concluded they need one. vice-president for the European Green Deal (nominated as Frans Timmermans) and the executive vice-president for an Economy that Works for People (nominated as Valdis Dombrovskis), who would oversee much of what would be necessary for a Green Deal (European Semester, EIB, Green … The European Investment Bank (EIB) is pushing ahead with climate change mitigation and environmental protection by providing the first Green Loan in Austria to Energie Steiermark. The idea of a new climate roadmap started about a year ago, after the European Council and EU countries asked the EIB Group to step up its work for the European Green Deal and help accelerate the move to a carbon-neutral continent by 2050. The lunch dialogue will take place on Thursday 19 March, at the Hotel in Brussels. This does not include online advertising cookies. The EU bank plays a crucial role in the “Green Deal” presented by the new European Commission President Ursula von der Leyen. Substantial revenue losses and a rise in uncertainty have seen investment plans slashed. The EIB Group, consisting of the EIF and the EIF, has provided a guarantee for a mezzanine tranche of a synthetic securitisation transaction of around €130 million to the ´Bank für Tirol and Vorarlberg AG´ (BTV). By calling for a “European green deal”, Ursula Von Der Leyen has set expectations very high for the new European Commission. This event is held under the auspices of the EPC Sustainable Prosperity for Europe Programme, in strategic partnership with the King Baudouin Foundation. Among other things, the EIB has committed to support €1 trillion of investments in climate action and environmental sustainability in the next decade. Many important investment projects have already been implemented with EIB financing. EIB Vice-President Ambroise Fayolle said: “When the EIB issued the world's first green bond in 2007 as part of its “Climate” bonds programme, it made a major contribution to the development of this market. The EIB and the City of Vienna have already implemented several climate action projects, totalling over EUR 1bn, most of which were related to energy efficiency measures in municipal housing. With the Green Deal, the European Commission unfolds a roadmap towards a circular economy without any harmful emissions by 2050. We can do this by turning climate and environmental challenges into opportunities, and making the transition just and inclusive for all. The EIB and the City of Vienna have already implemented several climate action projects, totalling over EUR 1bn, most of which were related to energy efficiency measures in municipal housing. UPDATE: Please note that due to health and security measures linked to the Coronavirus outbreak, this event has been cancelled. ILA in cooperation with the INSEAD IDN - International Directors Network is pleased to invite you to the online event “European Green Deal – Sustainability at the EIB” where Dr. Hakan Lucius will outline the actions currently undertaken by the European Investment Bank, the EU’s Bank, within the European Green Deal, to embed sustainability into investments in general, and to work towards a net … The EIB is providing €7.5 million to Cortical.io AG, an Austrian software company developing innovative artificial intelligence technology based on a Natural Language Understanding (NLU) approach that can interpret and process human language text. Nearly 8 000 authorities have joined so far, including the metropolitan areas of Paris, London and Berlin. ‘Climate neutral’ Europe. The City of Vienna has been implementing ambitious climate action initiatives since 1999, already managing to cut per capita greenhouse gas emissions in the city by a total of 34% between 1990 and 2018. On 14 January 2020 the European Commission presented the European Green Deal Investment Plan, which will mobilise at least €1 trillion of sustainable investments over the next decade. The capital relief provided by the transaction will enhance BTV’s risk-taking capacity and create additional lending headroom. These include the “Energy optimisation sludge treatment” project for Vienna's main wastewater treatment plant as well as comprehensive thermal renovation of municipal housing with Wiener Wohnen. Against this backdrop, I very much welcome this first climate partnership with the City of Vienna, indeed with any city in the EU, as it is only by working closely with ambitious partners that we can overcome the huge challenge of climate change. To achieve this, trillions of investment are required. We also need a roadmap, which is why the European Commission introduced the European Green Deal in December 2019. EIB chose to emphasise its commitment via a climate-related capital market product, fostering public awareness and reaching new investors by issuing the world's first green bond – a €600 million transaction labelled a 'Climate Awareness Bond' – in June 2007. The European Investment Bank (EIB) and Brenmiller Energy, an Israeli provider of industrial energy storage solutions, ... Union and Israel in research and innovation, paving the way to closer alignment with EU priorities such as the European Green Deal." In this edition of the EIB’s lunch dialogue series, our keynote speakers will discuss the scale of the challenge, the financial implications and the role of EU public funding in the efforts towards climate-neutrality. The software is capable of performing search and analysis based on meanings of words or sentences. What do the European Green Deal-which aims to make the EU’s economy climate neutral by 2050- and cultural heritage have in common?Quite a lot, according to a report on “Cultural Heritage and the EU Green Deal” by Europa Nostra and ICOMOS whose first findings will be discussed on Thursday 19 November at 11:30 at the Europe Regional Climate Heritage Forum. September 29, 2016 – Today, the DC Water and Sewer Authority (DC Water) issued the nation’s first Environmental Impact Bond (EIB) to fund the initial green infrastructure project in its DC Clean Rivers Project, a $2.6 billion program to control stormwater runoff and improve the District’s water quality, creating a healthier future for District residents. Here's how. How can the EU better use its finances and leverage private support to achieve the goals set by the European Green Deal? The European Investment Bank (EIB) and the City of Vienna are seeking to deepen their partnership to combat climate change. Please register here before 16 March. The bank will end funding for fossil fuels and airport … The European Investment Bank is one of the world’s main financers of climate action. Member of the European Parliament, Gunnar Muent Our website uses anonymised cookies to give you the best browser experience and to collect aggregated statistics. Places are limited and registration will be on a first come first served basis. The company will receive EUR 90 million of special climate action financing for sustainable investment projects. Please feel free to forward this invitation. In the coming weeks the European Investment Bank’s regional representations across Africa, together with the Portuguese EU Presidency and European Union delegations, will host regional workshops to discuss sustainable investment best practice and investment solutions. European governments have approved a roadmap to turn the European Investment Bank (EIB) into a “climate bank” with a €1 trillion green investment package to be spent by 2030. It employs the use of a synthetic excess spread equivalent to the one-year expected loss of the reference portfolio. The EIB Group, consisting of the European Investment Bank (EIB) and the European Investment Fund (EIF), provides funding of EUR 200m in a true sale securitisation transaction to Raiffeisen-Leasing Austria. In Russia they murdered the last Csar. Vienna Councillor for Finance Peter Hanke sees the partnership with the EIB as a key element of the City's manifold efforts to expand climate action: “In Vienna, we have set ourselves ambitious climate action objectives. But funding alone won’t get us to where we need to go. Its volume of new lending disbursed has gone down every year since 2015, and its total outstanding amount of loans has fallen as well. How can the EU better use its finances and leverage private support to achieve the goals set by the European Green Deal? Transparency, accountability and access to information, Taxation: avoiding misuse of EIB Group operations, Intermediated loans for SMEs, mid-caps and other priorities, Investments in infrastructure and environmental funds, Guarantees in support of SMEs, mid-caps and other objectives, EU Trade and Competitiveness Programme in Egypt, Jordan, Morocco and Tunisia, Connecting Europe Facility Debt Instrument, EIB in the Mediterranean partner countries*, The EIB in the Eastern neighbourhood countries, The EIB in sub-Saharan Africa, the Caribbean and the Pacific, Economic conferences and research networks, Open learning: resources for learners and researchers, EIB at the 2021 World Bank Group-IMF Spring Meetings, Investment and Investment Finance in Greece, Coronavirus pandemic: All about the EIB Group’s response. Thank you for subscribing to the European Investment Bank’s monthly newsletter. The EIB financing will cover research and development (R&D) as well as operational investments supporting Cortical.io’s growth. We will also bring all of the Bank's financing activities into line with the Paris climate agreement by the end of 2020. But that slim size conceals a big punch. The loan will allow the company to commercialise the third generation of its heat storage and steam generator system throughout Europe, North America … Thank you for subscribing to the European Investment Bank’s monthly newsletter. Cortical.io’s technology can search, extract, annotate and analyse key information from unstructured text – even with specialised vocabulary – across multiple languages and business sectors, and the company has already started developing standardised products to speed up deployment of the technology. EIB Vice-President responsible for energy policy Andrew McDowell made the following comment on the signing: “The EIB – the EU climate bank – intends to redouble its efforts to combat climate change. The European Union and the EIB Group play a leading role in implementing the Paris Agreement. Receive updates of the EIB Group’s activities in Europe and around the world. The EIB handed one of Europe’s largest ever loans to the Trans Adriatic Pipeline (TAP), which will bring Caspian gas to Europe, and it has funded … Transparency, accountability and access to information, Taxation: avoiding misuse of EIB Group operations, Intermediated loans for SMEs, mid-caps and other priorities, Investments in infrastructure and environmental funds, Guarantees in support of SMEs, mid-caps and other objectives, EU Trade and Competitiveness Programme in Egypt, Jordan, Morocco and Tunisia, Connecting Europe Facility Debt Instrument, EIB in the Mediterranean partner countries*, The EIB in the Eastern neighbourhood countries, The EIB in sub-Saharan Africa, the Caribbean and the Pacific, Economic conferences and research networks, Open learning: resources for learners and researchers, Austria: EIB Group cooperates with Raiffeisen-Leasing Group to support SMEs and Mid-Caps in response to the Covid-19 pandemic, Austria: EIB provides €7.5 million to artificial intelligence software innovator Cortical.io, Austria/Germany: EIB Group and BTV join forces to provide additional lending to SMEs and mid-caps, Coronavirus pandemic: All about the EIB Group’s response. The plan that we present today, to … The Hotel38 Boulevard de WaterlooBrussels1000, Belgium. Last autumn, the EIB decided to align all financing activities with the goals of the Paris climate agreement. The EIB should be able to do more to finance the green transition. They signed a “Joint Declaration on Climate Partnership” in Vienna, under which future City of Vienna projects concerning housing, energy, waste and transport will be subject to advance analysis for possible EU climate bank financing, taking their climate action contribution into account. This is the overarching objective of the European Green Deal. As yet another step forward, the European Commission released the European Green Deal in December 2019 with the goal of making Europe the first climate neutral continent by 2050. As a result, BTV will create a new portfolio of eligible loans to SMEs and mid-caps of up to €435 million, mainly in Tirol, Vorarlberg, Vienna and southern Germany. The European Green Deal is a document so thin you could print it out and not feel like you would be in breach of an EU forestry directive. The Bank of Greece and the European Investment Bank are hosting the webinar ‘Investment and Investment Finance in Greece’. Astrid Manroth, Finance Director of the European Climate Foundation, will moderate the event. Raiffeisen-Leasing Group subscribed to the mezzanine asset-backed notes. The European Green Deal is our plan to make the EU's economy sustainable. We also need a roadmap, which is why the European Commission introduced theEuropean Green Deal in December 2019. We will discuss with experts and policy makers the challenges ahead and their implications for investment needs and priorities with a special focus on digitalization and a green recovery. Deputy Director General, Projects Directorate, European Investment Bank, Kurt Vandenberghe The EU bank plays a crucial role in the “Green Deal” presented by the new European Commission President Ursula von der Leyen. The good thing is that it generates many ideas on saving energy and reducing Co2. These cities share the vision of cutting carbon emissions (decarbonisation) and ensuring residents have access to safe, sustainable and affordable energy. This aim requires huge investments in the coming years. Among other things, the EIB has committed to support 1 trillion euros of investments in climate action and environmental sustainability in the next decade. The new “Smart City Vienna” framework strategy has set the city further ambitious climate goals for the future. The European Green Deal Investment Plan will mobilise EU funding and create an enabling framework to facilitate and stimulate the public and private investments needed for the transition to a climate-neutral, green, competitive and inclusive economy. If you agree, this website section will also include third-party cookies used in online advertising. Under its Climate Bank Roadmap, the EIB committed to increase its lending to climate action and green activities to more than half of its funding activities by 2025. This green financing agreement was signed in Madrid by EIB Vice-President Emma Navarro, ICO President José Carlos García de Quevedo and Iberdrola President Ignacio Galán. The Green Deal comes with important investment needs which we will turn into investment opportunities. September 29, 2016 – Today, the DC Water and Sewer Authority (DC Water) issued the nation’s first Environmental Impact Bond (EIB) to fund the initial green infrastructure project in its DC Clean Rivers Project, a $2.6 billion program to control stormwater runoff and improve the District’s water quality, creating a healthier future for District residents. In this edition of the EIB’s lunch dialogue series, our keynote speakers will discuss the scale of the challenge, the financial implications and the role of EU public funding in the efforts towards climate-neutrality. Additionally, a group of NGOs on Tuesday called on the European Investment Bank (EIB) to ensure its response to the coronavirus crisis is aligned with the EU Green Deal - especially since the EIB has pledged to become EU's 'climate bank' ending all fossil fuel funding from 2021. 1. It aims to go further than the EU's energy policy targets related to reducing carbon dioxide emissions by 40% by 2030. However, despite this fast growth, a significant financing gap persists and huge potential is still waiting to be tapped in some green debt segments. As Europe continues to show, the Green Deal is not just an environmental policy; it is an economic and geopolitical necessity. Addressing the threat of climate change requires a major shift in how financial resources are allocated. The EU will aim to reach net-zero greenhouse gas emissions by 2050, a goal that will be enshrined in a ‘climate law’ to be presented in March 2020. Director for Institutional Relations and Public Affairs, European Investment Bank, Sirpa Pietikäinen This is the EU climate bank’s first partnership with a large EU city. Local per capita greenhouse gas emissions are expected to fall by 50% by 2030 and 85% by 2050. The transaction’s AAA-rated senior asset-backed notes have been issued by ROOF AT S.A., a special purpose vehicle (SPV) and placed with EIB (subscribing EUR 150m) and EIF (subscribing EUR 50m) as well as with other market funding partners. In the EU commission the mood arises: the more money spent the better it is. This is the overarching objective of the European Green Deal. The concern about climate change, incl. Its current applications include smart search and classification of information in contracts and emails. the EU Green Deal, has developed into a kind of European Hysteria. Receive updates of the EIB Group’s activities in Europe and around the world. The decade 2021-2030 is critical to address our planet's climate and environment emergency. The securitised EUR 538m portfolio consists of existing leases originated by Raiffeisen-Leasing Group in its ordinary course of business. We have also fully focused the City's finances on climate action with the introduction of the Vienna climate budget and the Klima-Milliarde (“climate billion”) in the 2020 budget. The City has been pursuing an active climate action policy for over two decades with its “KLiP” climate action programme. The EU bank will provide EUR 145m and ICO will provide up to EUR 140m for the company’s new renewable energy project, the total investment for which will reach EUR 290m. Green Deal Monitor. Adviser on the European Green Deal to the European Commission President Von der Leyen. The EIB Group operation is a direct response to the COVID-19 pandemic as the current crisis puts a particular strain on SMEs and mid-caps, which are experiencing shortages in liquidity and funding lines. In the future, the City of Vienna and the EIB will concentrate on the most climate-relevant areas such as housing, energy, waste management and transport. The Spring Meetings of the World Bank Group and the International Monetary Fund (IMF) bring together central bankers, ministers of finance and development, private sector executives, civil society, media and academics to discuss issues around global economy, international development and the world's financial markets in the midst of the COVID-19 pandemic. Putting Europe’s shared heritage at the heart of the European Green Deal is the goal of the European Cultural Heritage Green Paper launched by Europa Nostra and ICOMOS supported by the EIB Institute and the Creative Europe programme of the European Union. The transaction was arranged by Erste Bank and is expected to provide capital relief under the EU Capital Requirements Regulation framework. Constance Kann It will enable a framework to facilitate public and private investments needed for the transition to a climate-neutral, green, competitive and inclusive economy. The "European Green Deal" aims to make the EU the world's first "climate-neutral" continent by 2050. Five years ago, 196 countries came together and signed the Paris agreement, committing to keep the average global temperature within 2°C – but preferably 1.5°C – of its pre-industrial level. This does not include online advertising cookies. But funding alone won’t get us to where we need to go. Here are the 10 main points in the Commission plan:. Our website uses anonymised cookies to give you the best browser experience and to collect aggregated statistics. The pandemic has smothered nascent hopes for a recovery of investment activity in Greece. Over the next ten years, we plan to kick-start climate action projects worth EUR 1tn. Our website uses anonymised cookies to give you the best browser experience and to collect aggregated statistics. ‘Climate neutral’ Europe.

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