Transcript EIB Corporate presentation 2013

Divestment in the Energy Sector
Workshop
Belgrade, 8th June 2015
Andréas Beikos
Head of Representative Office for the Western Balkans
European Investment Bank
European Investment Bank
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London Array Offshore Windfarm
© Siemens AG Munich/Berlin
EIB’s environmental policies and procedures
& climate action
European Investment Bank
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Reference framework
Art. 11 of TFEU /
Treaty of Lisbon
“Environmental protection
requirements must be integrated
into the definition and
implementation of the Union
policies and activities, in particular
with a view to promoting
sustainable development.”
Charter of Fundamental
Rights of the EU
•
Main reference for EIB’s
social standards
•
Common EU’s values
•
Attention to rights of
disadvantaged groups
Best practices:
International Labor
Organisation (ILO) Core
Labour Conventions,
UN Guiding Principles on
Business & Human Rights,
standards of other IFIs, etc.
EIB Statement of Environmental and Social
Principles and Standards (2009)
Highest-level framework of the EIB articulating
commitment to environmental and social sustainability
European Investment Bank
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Environmental and social due diligence
EIB’s Environmental and Social (E&S) Standards:
• Complement financial and
economic due diligence of all
projects
• Apply to all regions, all types of
financing, to the whole project,
throughout the project cycle
• Are operationalized through
EIB’s Environmental and Social
Practices Handbook
10 E&S Standards
1
Assessment and Management of
Environmental and Social Impacts
and Risks
2
Pollution Prevention and Abatement
3
Biodiversity and Ecosystems
4
Climate-Related Standards
5
Cultural Heritage
6
Involuntary Resettlement
7
Rights and Interests of Vulnerable
Population Groups
8
Labour Standards
9
Occupational and Public Health,
Safety and Security
10
Stakeholder Engagement
Environmental and Social Standards – overview: http://www.eib.org/infocentre/publications/all/environmental-and-social-standards-overview.htm
Environmental and Social Practices Handbook: http://www.eib.org/infocentre/publications/all/environmental-and-social-practices-handbook.htm
European Investment Bank
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Alignment with EU climate policies
Thermosolar Gemasolar project in Spain
Copyright: © Torresol Energy Investments S.A
European Investment Bank
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European Union – world leader in tackling climate action
Climate Change Mitigation
•
2007: Energy Action Plan – ambitious 20-20-20 targets to be attained by 2020
•
2011: Roadmap for moving to a competitive low carbon economy by 2050
•
2014: 2030 framework for climate and energy policies - adopted by EU Council on 24th October
2030
2020
GHG emissions
reduction
20%
40%
• Binding target at EU level
• Reform of EU emissions
trading system (ETS)
Renewable
Energy
20%
27%
• Binding target at EU level
Energy
Efficiency
20%
27%
• Indicative target at EU level
Climate Change Adaptation
•
2013: EU Adaptation Strategy
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European Investment Bank
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Theory turned into practice: concrete measures at the EIB
Precise classification
of lending areas
and definition of
transparent
lending targets
(2010)
Reliable and accountable
methodology for the calculation
and publication of the
carbon footprint for
investment projects directly
financed by the EIB (2009-2011)
Conservative
thresholds
for selection
and evaluation
of projects
(2013)
Ranking EIB portfolio by GHG emissions
Carbon intensive
Low carbon
European Investment Bank
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2010: Precise classification of climate action lending areas
Renewable
Energy
Electricity, heat or fuel production from renewable sources, related
component manufacturing facilities and associated infrastructure
Energy
Efficiency
Projects justified on the basis of cost-benefit analysis – NPV of cost of the
project over its life < NPV of energy saved, including externalities
Sustainable
Transport
Transport projects resulting in reduction of GHG emissions through modal
shift and/or more efficient operation in a single mode
Forestry and
Land Use
Biological sequestration projects that sequester or conserve CO2equivalent
Research,
Development &
Innovation
RDI activities in areas of energy efficiency and low-carbon technologies,
including deployment of breakthrough innovation
Adaptation
Projects and/or measures to increase climate resilience of vulnerable
infrastructure or areas, such as e.g. flood control and drought management
GHG capture
or avoidance
Projects with demonstrable substantial reductions in GHG emissions,
e.g. methane capture or avoidance projects from waste water treatment
European Investment Bank
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Corporate Operational Plans
Transparency of loan signatures targets - 25% of total - and results
EIB climate action loan signatures
(in EUR m and percentage of total annual loan signatures)
21%
29%
30%
26%
27%
25%
EUR m
22,000
20,000
18,000
Climate adaptation
16,000
14,000
Other & miscellaneous*
12,000
GHG reduction in transport
10,000
RD & I
8,000
Energy efficiency
6,000
Renewable Energy
4,000
2,000
0
2009
2010
2011
2012
2013
2014
Total loans signed for climate action in 2009-2014: EUR 107bn
* including "Afforestation and Forest management" and "Waste and Wastewater" categories
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European Investment Bank
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Carbon footprint – a reliable and accountable methodology…
• Methodology developed in 2009, publicly available:
http://www.eib.org/attachments/strategies/eib_project_carbon_footprint_methodologies_en.pdf
• Ex-ante estimates of future emissions of 7 Greenhouse Gases
covered by the Kyoto Protocol (translated into CO2-eq), from all
relevant EIB investment projects across all sectors
• Approach guided by the principles of Completeness, Consistency,
Transparency, Conservativeness, Balance and Accuracy
• Estimates for a representative year of project operations
European Investment Bank
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Contact
European Investment Bank
100, bd. Konrad Adenauer L-2950 Luxembourg
www.eib.org
Andréas Beikos
Head of Representative Office for the Western Balkans
+381 11 312 1756
[email protected]
Esther Badiola
Senior Economist
EIB Projects Directorate
+352 4379 82661
[email protected]
European Investment Bank
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