Public consultation on the EIB Group's Environmental and Social Sustainability Framework

Overview

Information on this consultation is also available in French, German, Spanish and Portuguese. 

The European Investment Bank is the lending arm of the European Union. We are the biggest multilateral financial institution in the world and one of the largest providers of climate finance. We operate both inside the European Union and worldwide, and support projects that promote the priorities and objectives of the European Union (you can find more information on our priorities and countries of operation here). 

In this public consultation, the EIB is consulting on:

1. the new EIB Group Environmental and Social Policy, which lays out the Group’s vision to 2030, namely to actively contribute to sustainable development and inclusive growth; and
2. the EIB’s 11 Environmental and Social Standards, which define the requirements that the EIB’s promoters must meet when assessing and managing environmental, climate and social impacts and risks throughout EIB-financed projects, and which ask promoters to identify opportunities to positively support and promote sustainability objectives.  They cover stakeholder engagement, pollution prevention, biodiversity, climate change, involuntary resettlement, Indigenous Peoples, labour rights, health and safety, cultural heritage and intermediated finance (new!).

The EIB would also like to hear your views on its approach to human rights and on some cross-cutting themes, such as gender.

Whilst open to the public at large, this consultation may be of particular interest to the EIB’s promoters and clients, banks and financial institutions, civil society organisations (such as researchers, academia, non governmental organisations), private industry in the relevant fields, public authorities (including local, municipal, national and regional governments), professional networks, organisations and associations, think tanks and professional consultancies.

Why your views matter

As enshrined in the EIB Group Transparency Policy, the EIB is committed to engage, on a voluntary basis, in formal public consultations on selected policies. This participatory process allows the EIB to benefit from the expertise of a wide range of individuals and organisations and provides the opportunity for external stakeholders to participate in the preparation and review of policy documents, reinforcing the transparency and accountability of the EIB.

The EIB Group is committed to supporting the European Green Deal, Europe’s growth strategy that will improve the well-being and health of citizens, make Europe climate-neutral by 2050 and protect, conserve and enhance the EU’s natural capital and biodiversity while at the same time ensuring no one is left behind. The EIB Group has made the Green Deal the cornerstone of its Climate Bank Roadmap. The EIB Group Policy and Standards on environmental and social matters are reflecting the sustainable finance agenda and its framework to ensure we contribute to meeting its objectives.

More information on the context for the review and key changes to the Standards can be found in an explanatory note.  This document is available in English, French, Spanish and Portuguese.

What happens next

The EIB reviewed all contributions to the public consultation. Please find below the draft revised elements of the EIB Group Environmental and Social Sustainability Framework (ESSF) that were subject to consultation and that will be submitted to the EIB’s Board of Directors for approval.

For stakeholders’ ease of reference and in the interest of transparency, two versions of these documents have been prepared. The first, showing amendments compared to the version submitted for public consultation and the second as a clean version.

In addition, and in line with the EIB Group Transparency Policy, the EIB also published a draft public consultation report, summarising the public consultation process and a draft issues matrix, providing a consolidated overview of the contributions together with the EIB’s reasoned comments.

The Board of Directors is expected to discuss the ESSF on 2 February 2022. The final ESSF, as adopted by the Board of Directors, will be published on the EIB’s website.