Sci-Tech

European Investment Bank (EIB): Hoyer: The EIB needs additional capital for greater climate protection – the economy

The European Investment Bank (EIB) is demanding additional capital from EU Member States to increase their investment in climate protection in Europe. EIB President Werner Hoyer told Tagesspiegel that if the bank “significantly expanded its climate protection investments”, “our shareholders, the 27 EU Member States, would have to provide us with a capital increase”.

With the current capitalization, the EIB could achieve its climate protection goals. “But to cut a long story short: If we want the bank to do more, we need more capital,” Hoyer said.

He pointed out that the EIB has a capital of almost EUR 250 billion, excellent valuation and confidence in the capital markets. “We would not want to jeopardize this by changing our leverage ratio between equity and loans from 2.5.” In November 2019, the EIB announced that it would mobilize EUR 1 trillion to protect the climate and the environment by 2030.

As for tighter climate protection policy, as recently announced by European Commission President Ursula von der Leyen, Hoyer said: “Personally, I think it is right that we are more ambitious. We will see what the Member States say. “

The EIB is ready to finance the development of hydrogen production outside Europe so that green energy can be imported into the EU. “Europe will have to fund a significant amount of hydrogen infrastructure outside the EU to its advantage.

The situation is advantageous for both parties

It’s a win-win situation if we can really use hydrogen the way we envisioned it, “Hoyer told Tagesspiegel.

However, as part of the transformation to a climate-friendly economy, care must be taken to alleviate the social difficulties of this restructuring: “The last miner to climb from Pütt in Silesia will not become the leader of the digital start-up two years later. Transitional assistance is needed and we need to get involved, “said the President of the EIB.

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