Title:
Are capital flows from Europe climate proof?
Authors:
Douma, A.
Place:
[Amsterdam]
Publisher:
Both ENDS
Year:
2009
Series Title:
Both ENDS Policy Note
PAGE:
6
Language:
eng
Subject:
Economic Development and Trade
Keywords:
climate change
,
economic development
,
energy resources
,
sustainable development
Abstract:
As the climate negotiations unfold, key European financial institutions such as the European Investment Bank (EIB) and European Export Credit Agencies (ECAs) continue to support investments in developing countries in fossil fuels, large scale infrastructure and highly energy-intensive industries. Although they are public institutions, the EIB and ECAs thus back projects which undermine EU climate policies by stimulating Green House Gas emissions and decreasing the adaptive capacity of the local population in countries that are highly sensitive to climate change. How can these capital flows from the EU be harmonised with its climate change ambitions? This policy note assesses the climate policies and investment practices of the EIB and the ECAs, and presents policy recommendations in answer to this question.
Organization:
Both ENDS
Region:
Europe
Category:
Policy
Right:
© 2009 Both ENDS
Document type:
Report
File:
156957.pdf