Eurodad submission to the EIB Environmental and Social Sustainability Framework consultation: Standard 5 Climate Change
Eurodad's response outlines recommendations on the need to reflect climate risks, climate impacts and vulnerabilities.
The activities, financing and operations of the European Investment Bank (EIB) and EIB clients must serve the goals of the Paris Agreement – meaning it should be compatible with achieving the Paris Agreement’s most ambitious goal of 1.5°C target, and should cause no harm to people, communities, or the planet.
However, as it stands, the current draft Standard on Climate Change does not provide enough detail in its guidance to promoters, and does not reflect the need to address both economic and non-economic elements. Therefore, Eurodad presents this response to the EIB consultation and responds to questions 8 & 9 of the public consultation on draft Standard 5 on Climate Change.