European Investment Bank reports surge in climate project financing in 2010; Report says Europe could add 6m jobs in sector
Feb 24th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The European Investment Bank (EIB), an EU institution, increased financing for climate action projects to €19bn in 2010, representing an impressive 30% of its lending in the European Union. Significantly up from €16bn the year before, the EIB says this is a new landmark in supporting sustainable growth and building a low-carbon future in Europe. Also in Europe this week, a new report says increasing the EU’s 2020 greenhouse gas reduction target from 20% to 30% could help boost European investments from 18% to 22% of GDP, leading to a GDP increase of up to €620bn ($840bn) and the creation of up to 6m additional jobs.