The European Investment Bank is not a leader in the green transition

By Sutharee Wannasiri, Accountability Counsel

As president, at a minimum, Calviño must commit to consulting people impacted by EIB projects as part of their design and either ensuring or providing remedies for negative environmental and social impacts of its investments, Sutharee Wannasiri writes.

European Investment Bank President Nadia Calviño’s recent comment for Euronews that the EIB’s value is de-risking green investment for private investors builds on broader aims stated by the EIB to become a leader in green finance and to back large-scale projects to tackle global issues, including but not limited to, climate change.

While this might sound like a noble ambition, communities impacted by EIB projects know there is a lot more to the story: the EIB has already revealed time and again that it is ill-equipped to lead a green transition.

Read the full op-ed on Euronews here.