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The European Investment Bank participated in the United Nations Climate Change conference COP28 in Dubai from 30 November to 12 December 2023.

At COP28, countries, companies, financial institutions and civil society came together to affirm their will to tackle climate challenge through concerted and collaborative action.

EIB President Werner Hoyer and Vice-Presidents Ambroise Fayolle, Thomas Östros and Gelsomina Vigliotti led our delegation of experts.

  Must read: President Hoyer explains how key climate action drivers can boost climate adaptation and mitigation worldwide.

  A conversation with President Hoyer: Learn why the EIB is a game-changer in the fight against climate change.

COP28 highlights

Livestreams

  Did you miss an event? Replay our past recordings.

  Conversations on the ground
We asked our experts on the ground about how the EIB is a key partner in the fight against climate change. This series features President Werner Hoyer, Vice-Presidents Ambroise Fayolle, Thomas Östros and Gelsomina Vigliotti, as well as with the head of EIB Global Markus Berndt, the director General of Operations Jean-Christophe Laloux, and our Chief Climate Change Expert Nancy Saich.

Key events

Find below a selection of our key events in the margins of the COP28 summit.

You can also check the full agenda of the events in the EIB/Benelux pavillion and in the Joint MDB pavillion.

Top stories

COP28: EIB Global presents first just resilience and just transition approach to meet needs of most vulnerable
At the COP28 climate change conference, EIB Global, the development arm of the European Investment Bank (EIB), has presented its new approach to increase financing and advisory services in support of a just transition and just resilience worldwide. The EIB will be the first international financial institution to apply a just resilience approach from the start of 2024.  Building on its considerable work in the European Union, in support of communities impacted by decarbonisation efforts, EIB Global has also announced it is expanding its just transition support worldwide.
Commission, EIB and Breakthrough Energy Catalyst partnership funds first joint projects on climate technologies
Today, at the COP28 in Dubai, European Commission Executive Vice-President Maroš Šefčovič, Founder of Breakthrough Energy Bill Gates, and European Investment Bank President Werner Hoyer announced the first two European projects to be supported by the EU–Catalyst partnership: Ørsted’s FlagshipONE and Energy Dome’s Ottana CO2 Battery. Once completed, these two projects will be game changers in the clean tech sector and help the EU reach its 2030 climate targets. The partnership is providing €240 million in a combination of grants and commercial investment (equity and venture debt).
COP 28: EIB and AllianzGI announce new capital commitments to the Emerging Market Climate Action Fund (EMCAF)
The European Investment Bank (EIB) and Allianz Global Investors (AllianzGI) announced new capital commitments to the Emerging Market Climate Action Fund (EMCAF). The United Kingdom Foreign, Commonwealth & Development Office (FCDO) will commit €10 million (£9 million). In addition, on behalf of Germany’s Ministry for Economic Affairs and Climate Action, Kreditanstalt für Wiederaufbau (KfW) intends to top up its existing commitment with an additional €33 million. Including these new commitments, EMCAF will likely hold its third close with a total of €385 million in the coming weeks. Anchor investors in EMCAF since the start include the governments of Germany and Luxembourg, the Nordic Development Fund, Allianz, Folksam Group and EIB.
COP28: German government and EIB provide €20 million grant to support Ukraine’s energy transition
On the sidelines of a COP28 event organised by the German-Ukrainian Energy Partnership, Germany’s Federal Ministry of Economic Affairs and Climate Action (BMWK), the European Investment Bank (EIB) and Ukraine’s Ministry for Restoration agreed on the intention to sign a €20 million grant for the Renewable Energy Solution Programme (RES). This grant will enhance renewable energy in Ukrainian municipalities and foster energy independence in public institutions.
COP28: Multilateral Development Banks boost joint action on climate and development
Multilateral Development Banks (MDBs) have published a joint statement where they present concrete and urgent actions to scale up finance and enhance climate outcomes measurement, strengthen country-level collaboration, and increase co-financing and private sector engagement. The announcement comes as world leaders are gathering at the COP28 United Nations Climate Change Conference in Dubai, United Arab Emirates.
EIB at COP 28: We are moving fast, but so is climate change
The world's multilateral development banks, like the European Investment Bank (EIB), are on target and providing record levels of finance for climate action.
COP28: Blue Mediterranean Partnership steps up support for sustainable blue economy
At COP28, partners and donors involved in the Blue Mediterranean Partnership reinforced their support for developing the sustainable blue economy in the southern Mediterranean region. The parties involved signed a letter of intent to make their participation in the Partnership official and to make the Partnership operational in early 2024.
Climate finance will be the test of COP28
The COP28 climate talks need to secure adequate resources for less-developed countries to reap the benefits of the green transition, says EIB VP Fayolle.

Curious about the green transition?

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