European Investment Bank
Luxembourg, Luxembourg| Invested through |
|
|---|---|
| Asset Classes | Impact bonds |
| Impact strategy | Impact Equities and Bonds |
| ISIN code | XS1107718279 |
| Industry group | Diversified Financials |
| Aligned with SDGs |
Founded in 1958, the European Investment Bank (EIB) is the long-term not-for-profit lending bank of the European Union and it is owned by the 28 EU member states. Its operational priorities include economic and social cohesion and convergence; support for small and medium-sized enterprises; and protection and improvement of the environment. The institution describes its main task as "to contribute towards the integration, balanced development and economic and social cohesion of the EU Member States". EIB finances projects in 140 countries all over the world, not only in Europe. The bank is one of the world's main financiers of climate action and the institution is very involved in the market of green bonds: after launching the first green bond in 2007, the EIB played a key role in the development of this market. The EIB is headquartered in Brussels and has 3,450 employees.
Investment rationale
The EIB issues Climate Awareness Bonds to finance projects that contribute to climate action worldwide. The proceeds of these impact bonds are used to fund lending for renewable energy projects (solar, wind, hydro, geothermal) and energy efficiency projects (district heating, building insulation, efficiency measures in energy transmission and distribution). The Climate Awareness Bonds issued by the EIB have allocated a total of EUR 33.7bn to 266 projects in 57 countries. As most of the proceeds are allocated to renewable energy projects, the bond fits well with our Renewable Resources theme.