We finance sustainable and inclusive projects
In an environment where social issues are taking centre stage on the European policy agenda and social investment financing needs are growing, the CEB is well placed to respond to added demand and provide effective support.
Strategic framework for social investments
Social investments are expected to further accelerate in the coming years as European countries step-up their social inclusion agendas.
- The growing social and economic inequalities will not be reversed by economic recovery alone.
- Years of underinvestment in infrastructure have exacerbated the already substantial investment gap in the European social sector. Long-term challenges facing Europe, such as demographic shifts and climate change, are set to aggravate these trends.
In order to more effectively reach cities and make the most of public investment in urban social sector development programmes, the CEB is increasingly establishing strategic partnerships such as, for instance, the CEB’s support of the 100 Resilient Cities initiative.
What the CEB offers
From a CSR perspective, the CEB consistently promotes a comprehensive approach to social inclusion. The Bank is committed to leveraging its impact through project quality, efficiency of operations and sustainability of financing via innovative instruments best suited to borrowers’ needs.
The CEB actively attracts and manages donor funding, including sizeable contributions from the EU and has set up a number of earmarked trust funds in support of technical assistance programmes. This assistance helps them implement their projects according to best practice. For instance, the Bank may put an engineer at the disposal of a borrower to help ensure that the project makes sound use of, for example, energy efficiency or renewable energy schemes (see more…).
The CEB’s climate strategy
With its observer status having been confirmed in 2018, the CEB participated in the 24th edition of the Conference of the Parties to the UN Framework Convention on Climate Change (COP24) which took place in December 2018 in Katowice, Poland.
The CEB has been joining efforts in various partnerships with other Multi-lateral Development Banks (MDBs) to align with the objectives of the Paris Agreement. The CEB is pleased that the basic elements MDBs agreed on are steps the Bank has been progressively implementing for some time now, namely:
- Ensuring that projects are in line which each country’s low-emission development pathway.
- Managing physical climate risks and making projects more resilient to climate change.
- Prioritising, targeting and reporting on climate finance.
- Developing tools and methods for screening, monitoring and reporting on climate change indicators.
- Ensuring that internal operations are aligned with the Paris Agreement.
GHG Emissions for investment projects approved
The CEB applies greenhouse gas emission (GHG) screening to all projects proposed for CEB financing to establish a preliminary estimate of the expected GHG emissions from a project and, in the case of mitigation projects, the relative decrease in GHG emissions.
The figure below provides an overview of the carbon footprint estimates carried out for the portfolio of projects approved in 2017 and 2018. Relative GHG emissions (savings) exceed absolute emissions for both years thus indicating that the CEB portfolio consistently aligns with a low carbon pathway.
Anton Spierenburg, Deputy Director for Technical Assessment and Monitoring:
Alignment with the Paris Agreement goals needs to be socially inclusive. This implies better integration of the social dimensions in climate action.