BAKU, Azerbaijan, November 10. The European Investment Bank (EIB) Group is set to announce a series of new initiatives to accelerate global climate action at the 30th United Nations Climate Change Conference (COP30) in Belém, Brazil, taking place from today through November 21, Trend reports via the EIB.
The EIB Group — which includes the European Investment Fund (EIF) — will present the measures in collaboration with business and government representatives from the European Union and other regions. The new projects will target climate resilience, women-led initiatives in the Amazon, electricity grid upgrades in Brazil, and financing for clean energy across Latin America. The Group will also highlight expanded efforts to promote reforestation and protect biodiversity in emerging economies.
During COP30, multilateral development banks (MDBs) will present progress reports on mobilizing finance to help countries achieve ambitious climate goals. The updates follow a joint statement issued at COP29 in Baku, Azerbaijan.
On September 30, the EIB’s Board of Directors unanimously approved Phase Two of its Climate Bank Roadmap, alongside the Energy Sector Orientation strategy. The next phase focuses on three key priorities:
Boosting competitiveness and clean energy access: Ensuring affordable, locally produced clean energy for households and businesses while fostering innovative cleantech solutions.
Doubling adaptation finance: Increasing investment in climate adaptation to €30 billion between 2026 and 2030. The EIB notes that extreme weather events in Europe this summer caused at least €43 billion in economic losses, while every euro spent on prevention saves between five and seven euros in future damages.
Streamlining green finance access: Simplifying procedures to make green funding more accessible, particularly for SMEs. The Group plans to cut bureaucracy by introducing simplified assessment tools, using existing regulatory standards, and expanding “green checker” mechanisms.