April 22, 2020

More good news!

And there will be more coming - stay tuned!

 

One of the world’s biggest public banks is setting their climate strategy.

Tell the EIB: Close loopholes for gas finance and chart a just COVID-19 recovery!

ACT NOW

Dear Jeanne,

Last November, thanks to student strikes, open letters, creative protests, and tens of thousands of emails from the public, the European Investment Bank (EIB) passed a historic energy lending policy that rules out almost all fossil fuel finance. Now, the EIB is drafting their Climate Bank Roadmap, and the consultation could not come at a more important time.

The EIB is one of the world’s biggest public banks and could play a key role in ensuring a just, green COVID-19 recovery in Europe and globally with the right roadmap. Send your message.

As one of the world’s largest public banks, it’s crucial the EIB take a leadership role right now. If they move on this issue, we expect financial institutions in the private and public sector around the world to follow.

The first submission deadline for the roadmap is this Friday, April 24th, and we need to make sure they hear us loud and clear. We need the EIB to:

  • Close all remaining fossil finance loopholes,
  • Use COVID-19 stimulus to chart a path to a resilient zero-carbon economy, and
  • Ensure robust just transition funding for fossil fuel dependent workers and communities.

We can’t afford to double down on the fossil fuel economy as we recover from this pandemic.

Click here to send a submission directly to EIB staff and member state representatives letting them know how important it is to get this moment right, and make sure we use COVID-19 stimulus finance to build a more resilient future. 

Last year, people power won by convincing the EIB to end more than EUR 2.4 billion a year in government-backed fossil fuel finance. This year, as we face overlapping and still-unfolding crises we think we can win again. EIB President Werner Hoyer has already said the recovery must “support the pursuit of our climate goals.”

COVID-19 is changing a lot right now and those with entrenched interests in fossil fuels are trying to take advantage of the situation. We can’t let them get away with it. Let’s keep up the pressure.

In solidarity,

Bronwen Tucker
Stop Funding Fossils Analyst
Oil Change International

Oil Change International campaigns to expose the true costs of fossil fuels and facilitate the coming transition towards clean energy. We are dedicated to identifying and overcoming barriers to that transition.

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