On Monday 23rd of March 2020, ALDREN consortium members were invited to attend Stakeholder meetings (which was transformed into webinars because of the Covid crisis) on the European Investment Bank (EIB) Group’s Climate Bank Roadmap 2021-2025. Two sessions were organized and focussed on the following topics:
- Session 1: Paris alignment (Aligning the EIB Group’s activities with the goals and principles of the Paris Agreement)
- Session 2: Sustainable finance (Leveraging private-sector finance and promoting financial innovation)
The objective of the meeting was to gather feedback from the stakeholders on questions like “What type of financing and advisory activities should the EIB group prioritize to support climate-resilient strategies.
EIB underlined that all their activities will align by the end of 2020 with the goals and principles of the Paris Agreement. Their approach was compared to a sofa where both sides need to be compatible with the Paris Alignment, in other words, need “to meet the EIB’s robust environmental and social standards.
During the discussions the following key points raised:
- Green taxonomy to define green investments (common language),
- Methodology to assess properly the real investment impact (reporting of the Carbon footprint),
- Aggregation of small projects (e.g. how to report, without excessive administrative burden, the impact of window change)
In the wrap-up, the need for common and standardized tools and methodology, for the reporting and for evaluation of risks at project levels were underlined.
The ALDREN project can contribute to many of the discussed key points because ALDREN developed:
- a common language in the building sector (from the boiler room to the boardroom),
- a methodology and common metrics to assess properly the real investment impact by key indicators related to primary energy, carbon emission and share of renewables.
ALDREN work also on the development of building valuation and risk indicators (https://aldren.eu/aldren-alliance-meeting-on-building-valuation/).
These ALDREN key results have been presented in the ALDREN event in the EU parliament (https://aldren.eu/meps-meeting-in-the-ep/). During the meeting, it was underlined that it is essential that the political level, the EU administrative level, and the financial sector use the same standardized tools and definitions, for example, a common taxonomy.
Stakeholders are invited to send their contribution to EIB before the 12th of June. The EIB Group’s Climate Bank Roadmap 2021-2025 will be presented at the COP 26 scheduled for November 2020.
Author and date: Johann Zirngibl, 24th March 2020