Page 9 - European Energy Innovation - winter 2019 publication

Winter 2019 European Energy Innovation 9

INDUSTRY DECARBONISATION

Mobilising private capital

for the purposes of climate

action and environmental

technically viable, but the economic sustainability is one of our
challenges are daunting. High capital
costs, lack of incentives or revenue main areas of expertise.
models, long payback times and high
risks are just some of the factors climate-action investment by 2030,
restricting green financing. In other and we will align all our financing
cases, the necessary technologies are activities with the Paris Agreement by
not yet here. Industry decarbonisation the end of 2020.
will require substantial efforts
in research, development and These goals mean that we need to
innovation. It will require new aim for climate in everything we do,
innovative low-carbon production including in industry. As the European
processes, significant investment in climate bank, we follow a long-term
industrial equipment and changes vision that encourages the necessary
in the energy system. In short, it will investments now. We are committed
require a completely new, greener to supporting the EU industry in its
industrial ecosystem. The global efforts to decarbonise by 2050. Our
emission equation is not an easy economists and engineers specialise
one to solve. Cutting emissions is in a wide range of industrial sectors
associated with an expensive and and technologies, and they will
typically inconvenient burden that ensure that money will be channelled
will mostly help people elsewhere, or towards the most ambitious and
future generations. And whereas the carbon-friendly projects. If we say we
benefits accrue over decades and are working for a greener future, I can
centuries, the costs must be paid promise you, we are. l
upfront. This long-term horizon poses
financial challenges, calling for long-
term investors.

EMBRACING THE GREEN Contact information
MOVEMENT: EIB’S ROLE
IN FINANCING INDUSTRIAL More information at: www.eib.org
DECARBONISATION info@eib.org
The recent green movement is Tel.: +352 4379 22000
extremely encouraging for us at the
EIB. Mobilising private capital for
the purposes of climate action and
environmental sustainability is one
of our main areas of expertise. Last
year, 30% of our total financing went
to climate action projects, and we
are proposing to increase this share
to 50% by 2025. By working with our
public and private partners, we strive
to unlock more than 1 trillion euros of

www.europeanenergyinnovation.eu