The European Investment Bank (EIB) and the United Nations Environment Programme (UNEP) have joined forces to deepen their cooperation to enhance climate and environmental actions. An MoU was signed in Brussels this week at a meeting between Under-Secretary-General of the United Nations and Executive Director of UNEP, Inger Andersen, and the EIB Vice President responsible for Climate Action and Environment, Emma Navarro.
The focus of the strategic cooperation will be on climate change, conservation, protection, enhancement and support of nature and natural resources, including biological diversity worldwide and circular economy. A priority will be identification of a new pipeline of investment projects in the field of environment and climate change.
“The climate emergency is the defining issue of our time. Now we must widen the debate and increase awareness of threats to nature and biodiversity and the impact they have on our lives,” said Navarro. “Annual global funding needed for safeguarding nature is estimated to be between US$300-400 billion while the current flows remain around US$50 billion. We need to work together to bridge the investment gap.”
“As we face existential crises – of nature and climate – our best chance to reverse the damage humanity has done and to leave future generations a liveable future is to work together to address these global challenges,” adds Andersen. “We are proud to join hands with the EIB to take action towards a healthier, more sustainable planet.”