European Investment Bank announces €30 billion climate adaptation plan

The European Investment Bank (EIB) Group has unveiled a new plan to double its investment in climate change adaptation, aiming to reach €30 billion by 2030. Presented by EIB Group President Nadia Calviño, the initiative is based on the principle that every euro invested in prevention and adaptation saves ten euros in future damages and repairs.

The funding is intended to help Europe adapt to extreme weather events, including heatwaves, droughts, wildfires, and floods. Key areas of support include energy networks, public buildings, water supply systems, and resilient agriculture.

The plan, backed by the boards of the EIB and the European Investment Fund (EIF), will involve direct financing and advisory strategies to accelerate investment in resilient infrastructure and cities both within and outside the European Union. It also aims to assist companies, public authorities, and financial institutions in identifying climate risks and implementing solutions to safeguard operations against extreme weather scenarios.