Yesterday, the European Commission and the European Investment Bank (EIB) launched two financial instruments to drive investment in energy efficiency, efforts to preserve natural capital, and adaptation to climate change. The objective is to unlock public and private investments by combining EIB loans with financing under the EU LIFE Programme for Environment and Climate Action. The first instrument – the Natural Capital Financing Facility – foresees a total budget of €100–125 million for 2014-2017 and will support viable nature and climate adaptation projects. The second instrument aims to increase private financing for energy efficiency projects. The Commission has committed €80 million for 2014-2017, anticipating an 8-fold leverage effect. Both mechanisms complement the Investment Plan for Europe, helping to remove market barriers by investing in projects with real added value for the European economy. Karmenu Vella, EU Commissioner for Environment, Maritime Affairs and Fisheries and Miguel Arias Cañete, EU Commissioner for Climate Action and Energy are participating in the official launch of these tools.
EU Institutions News
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