European Investment Bank – a major player for wilderness?
Our response to the consultation on EIB’s road to becoming a “Climate Bank” stresses its great potential opportunity to underpin major natural ecosystem conservation.
True protection principles must be safeguarded, given greater need to rely on private sector participation as COVID undermines official funding sources. There will also be a need for a more ‘balanced portfolio approach’ to include softer loans and grants. And projects funded must genuinely support the Paris Agreement in addressing climate change, with no more scope for image-tarnishing subsidised wood burning bioenergy.
However, if these issues are addressed, EIB could have a highly important potential role to play in achieving ambitious targets old growth forest protection, and restoration of large no-extraction natural ecosystem areas (AKA wilderness).Read More …