European Investment Bank Group becomes investor signatory to CDP
As an investor signatory, the EIB Group will support CDP’s annual disclosure request sent to over 7 000 companies globally.
CDP and the European Investment Bank Group (the European Investment Bank and the European Investment Fund) are pleased to announce today that the EIB Group has furthered its commitment to driving corporate environmental transparency by becoming an investor signatory to CDP, the non-profit that runs the environmental disclosure system.
As an investor signatory, the EIB Group will support CDP's annual disclosure request sent to over 7 000 companies globally. It joins a group of 590 financial institutions, with $110 trillion in assets, requesting disclosure using CDP's climate change, forests and/or water security questionnaires that are fully aligned with the recommendations issued by the Task Force on Climate-related Financial Disclosures (TCFD).
As the first multilateral development bank in the world to become a signatory, the EIB Group gains access to the world's largest corporate environmental dataset, which can be used to inform its investment and financing activities. Last year, over 2 900 companies, including nearly 80% of Europe's market value, reported environmental data to investors through CDP's disclosure system.
The new EIB Group Climate Bank Roadmap envisages that the Group aligns all its financing activities with the Paris Agreement from the start of 2021, supports €1 trillion of investment for climate action and environmental sustainability by 2030, and dedicates more than half of the EIB's annual financing to green investments by 2025.
Ambroise Fayolle, Vice-President of the EIB, commented: "We will not mobilise the trillions needed to solve the dual climate and environmental crisis without transparent and accountable data. That is why we are glad to be the first multilateral development bank to support the CDP initiative, which gathers environmental impact data from thousands of companies, cities, states and regions. The EIB is committed to being a global climate leader and to stepping up its engagement with clients around the world to support climate action and environmental sustainability projects."
Alain Godard, EIF Chief Executive, stated: "The CDP Europe Report shows significant differences among companies on carbon performance, climate goals and the disclosure of related information. To scale up the necessary investments to meet European climate targets, we need environmental disclosure from all economic players. Therefore, as the specialist provider of risk finance for small and medium businesses in Europe, the EIF is delighted to partner with CDP. This sends a strong signal about the importance of environmental disclosure and our cooperation with civil society."
Laurent Babikian, Director Capital Markets at CDP Europe, commented: "EIB Group financing is instrumental to achieving the European Green Deal and EU climate neutrality by 2050. We are therefore delighted to welcome the EIB Group – the EU climate bank – as a CDP investor signatory. High-quality corporate environmental data are the foundation for shifting trillions of euros from dirty to green assets to achieve EU goals. With Europe at the forefront of sustainable finance, this sends a clear signal to the market that public European financing is focused on companies leading the transition to a sustainable economy. Through this partnership, we look forward to continuing the close collaboration between CDP and the EIB Group on environmental topics."