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'@@ -1,11 +1,10 @@ The Climate-Smart Urbanization Program is an initiative by the CIF meant to support [[City|cities]]. The Climate Investment Funds has been important in climate financing since 2008.<ref>{{Cite web|title=Climate Investment Opportunities in Cities - An IFC Analysis|url=https://www.ifc.org/wps/wcm/connect/Topics_Ext_Content/IFC_External_Corporate_Site/Climate+Business/Resources/CIOC-IFC-Analysis|access-date=2021-04-15|website=www.ifc.org|language=en}}</ref><ref>{{Cite web|date=2019-05-31|title=10 Years of Climate Action|url=https://www.climateinvestmentfunds.org/documents/10-years-climate-action|access-date=2021-04-15|website=Climate Investment Funds|language=en}}</ref> -----The [[International Finance Corporation]] state that cities in emerging markets can attract more than $29 trillion in climate-related sectors by 2030. <ref>{{Cite web|last=Foundation|first=Thomson Reuters|title=Emerging cities could attract $29 trillion in climate-cash - World Bank|url=https://news.trust.org/item/20181129085608-47aaj/|access-date=2021-04-16|website=news.trust.org}}</ref><ref>{{Cite web|title=Supporting Climate Business Opportunities in Emerging Markets|url=https://www.worldbank.org/en/news/feature/2020/05/07/supporting-climate-business-opportunities-in-emerging-markets|access-date=2021-04-16|website=World Bank|language=en}}</ref><ref>{{Cite news|last=Taylor|first=Michael|date=2018-11-29|title=Emerging cities could attract $29 trillion in climate cash|language=en|work=Reuters|url=https://www.reuters.com/article/us-investment-cities-climatechange-idUSKCN1NY0XM|access-date=2021-04-16}}</ref> -Unlike other infrastructure funds, [[Marguerite Fund]] II invests in greenfield infrastructure cases before they are fully developed, despite the risk. <ref name=":2">{{Cite web|title=‘Visionary’ fund for early stage European infrastructure backed by nations and EU|url=https://www.eib.org/en/stories/pan-european-infrastructure-fund|access-date=2021-04-16|website=European Investment Bank|language=en}}</ref><ref>{{Cite web|title=Background {{!}} Marguerite|url=https://www.marguerite.com/about-us/background/|access-date=2021-04-16|language=en}}</ref><ref>{{Cite web|title=Marguerite Fund|url=https://www.eib.org/en/products/equity/funds/marguerite-fund|access-date=2021-04-16|website=European Investment Bank|language=en}}</ref> -Unlike other infrastructure funds, [[Marguerite Fund]] II invests in greenfield infrastructure cases before they are fully developed, despite the risk. <ref name=":2">{{Cite web|title=‘Visionary’ fund for early stage European infrastructure backed by nations and EU|url=https://www.eib.org/en/stories/pan-european-infrastructure-fund|access-date=2021-04-16|website=European Investment Bank|language=en}}</ref><ref>{{Cite web|title=Background {{!}} Marguerite|url=https://www.marguerite.com/about-us/background/|access-date=2021-04-16|language=en}}</ref><ref>{{Cite web|title=Marguerite Fund|url=https://www.eib.org/en/products/equity/funds/marguerite-fund|access-date=2021-04-16|website=European Investment Bank|language=en}}</ref> +The [[International Finance Corporation]] state that cities in emerging markets can attract more than $29 trillion in climate-related sectors by 2030. <ref>{{Cite web|last=Foundation|first=Thomson Reuters|title=Emerging cities could attract $29 trillion in climate-cash - World Bank|url=https://news.trust.org/item/20181129085608-47aaj/|access-date=2021-04-16|website=news.trust.org}}</ref><ref>{{Cite web|title=Supporting Climate Business Opportunities in Emerging Markets|url=https://www.worldbank.org/en/news/feature/2020/05/07/supporting-climate-business-opportunities-in-emerging-markets|access-date=2021-04-16|website=World Bank|language=en}}</ref><ref>{{Cite news|last=Taylor|first=Michael|date=2018-11-29|title=Emerging cities could attract $29 trillion in climate cash|language=en|work=Reuters|url=https://www.reuters.com/article/us-investment-cities-climatechange-idUSKCN1NY0XM|access-date=2021-04-16}}</ref> +----Unlike other infrastructure funds, [[Marguerite Fund]] II invests in greenfield infrastructure cases before they are fully developed, despite the risk. <ref name=":2">{{Cite web|title=‘Visionary’ fund for early stage European infrastructure backed by nations and EU|url=https://www.eib.org/en/stories/pan-european-infrastructure-fund|access-date=2021-04-16|website=European Investment Bank|language=en}}</ref><ref>{{Cite web|title=Background {{!}} Marguerite|url=https://www.marguerite.com/about-us/background/|access-date=2021-04-16|language=en}}</ref><ref>{{Cite web|title=Marguerite Fund|url=https://www.eib.org/en/products/equity/funds/marguerite-fund|access-date=2021-04-16|website=European Investment Bank|language=en}}</ref> -[[European Investment Bank|European Investment Bank (EIB)]] and the national promotional banks contributed €705 million to the [[Marguerite Fund|fund]] by November 2017, and a private investor in 2018 contributed another 40 million. The European Investment Bank, with the guarantee of [[European Fund for Strategic Investments|EFSI]], doubled the in Marguerite II to 200 million, marking it as the EU bank's largest investment in a infrastructure fund. <ref name=":2" /><ref name=":0">{{Cite web|title=Background {{!}} Marguerite|url=https://www.marguerite.com/about-us/background/|access-date=2021-04-16|language=en}}</ref><ref name=":1">{{Cite web|title=Europe’s leading National Promotional Banks and European Investment Bank launch Marguerite II|url=https://www.kfw.de/KfW-Group/Newsroom/Latest-News/Pressemitteilungen-Details_445632.html|access-date=2021-04-16|website=www.kfw.de|language=en}}</ref> +[[European Investment Bank|European Investment Bank (EIB)]] and the national promotional banks contributed €705 million to the [[Marguerite Fund|fund]] by November 2017, and a private investor in 2018 contributed another 40 million. The European Investment Bank, with the guarantee of [[European Fund for Strategic Investments]], doubled the in Marguerite II to 200 million, marking it as the EU bank's largest investment in a infrastructure fund. <ref name=":2" /><ref name=":0">{{Cite web|title=Background {{!}} Marguerite|url=https://www.marguerite.com/about-us/background/|access-date=2021-04-16|language=en}}</ref><ref name=":1">{{Cite web|title=Europe’s leading National Promotional Banks and European Investment Bank launch Marguerite II|url=https://www.kfw.de/KfW-Group/Newsroom/Latest-News/Pressemitteilungen-Details_445632.html|access-date=2021-04-16|website=www.kfw.de|language=en}}</ref> -As a direct [[Submarine communications cable|digital cable]] must cover 6.200km of ocean floor, cross submarine mountain ranges and rifts, investments present a commercial risk. Most clients can thus only purchase capacity after the cable is finalized. <ref name=":2" /><ref>{{Cite web|title=Background {{!}} Marguerite|url=https://www.marguerite.com/about-us/background/|access-date=2021-04-16|language=en}}</ref><ref>{{Cite web|last=CNN|first=James Griffiths|title=The global internet is powered by vast undersea cables. But they're vulnerable.|url=https://www.cnn.com/2019/07/25/asia/internet-undersea-cables-intl-hnk/index.html|access-date=2021-04-16|website=CNN}}</ref><ref>{{Cite web|last=https://plus.google.com/+UNESCO|date=2017-10-18|title=Harnessing submarine cables to save lives|url=https://en.unesco.org/courier/2017-october-december/harnessing-submarine-cables-save-lives|access-date=2021-04-16|website=UNESCO|language=en}}</ref> +As a direct [[Submarine communications cable|digital cable]] must cover 6.200km of ocean floor, cross submarine mountain ranges and rifts, investments present a commercial risk. Most clients can thus only purchase capacity after the cable is finalised. <ref name=":2" /><ref>{{Cite web|title=Background {{!}} Marguerite|url=https://www.marguerite.com/about-us/background/|access-date=2021-04-16|language=en}}</ref><ref>{{Cite web|last=CNN|first=James Griffiths|title=The global internet is powered by vast undersea cables. But they're vulnerable.|url=https://www.cnn.com/2019/07/25/asia/internet-undersea-cables-intl-hnk/index.html|access-date=2021-04-16|website=CNN}}</ref><ref>{{Cite web|last=https://plus.google.com/+UNESCO|date=2017-10-18|title=Harnessing submarine cables to save lives|url=https://en.unesco.org/courier/2017-october-december/harnessing-submarine-cables-save-lives|access-date=2021-04-16|website=UNESCO|language=en}}</ref> [[Marguerite Fund|Marguerite I]] launched following the financial crisis in 2010, at a time when investors had little trust in greenfield infrastructure. In Europe, specifically France and Germany, investments were successful following the 170 million fund. <ref name=":2" /><ref name=":0" /><ref name=":1" /> @@ -15,9 +14,7 @@ * 900,000 energy-saving streetlights * 550 000 tons of waste treated, -* with 366 kilometers of highway and +* with 366 kilometres of highway and * a renewable energy capacity of 1 300 megawatts. <ref name=":2" /><ref name=":0" /><ref name=":1" /> -With EIB financing, innovations from firms like Jennewein can remain in Europe, and not be outsourced to the United States.<ref>{{Cite web|title=New EIB investment report: EU risks losing ground on innovation to US and China|url=https://www.eib.org/en/press/all/2018-305-new-eib-investment-report-eu-risks-losing-ground-on-innovation-to-us-and-china|access-date=2021-04-16|website=European Investment Bank|language=en}}</ref><ref>{{Cite web|title=Reviving European innovation {{!}} McKinsey|url=https://www.mckinsey.com/featured-insights/innovation-and-growth/reviving-innovation-in-europe|access-date=2021-04-16|website=www.mckinsey.com}}</ref><ref>{{Cite web|title=Sweet finance helps Jennewein ferment human breast-milk sugars|url=https://www.eib.org/en/stories/synthesised-human-breast-milk-sugar|access-date=2021-04-16|website=European Investment Bank|language=en}}</ref> - -With EIB financing, innovations from firms like Jennewein can remain in Europe, and not be outsourced to the United States.<ref>{{Cite web|title=New EIB investment report: EU risks losing ground on innovation to US and China|url=https://www.eib.org/en/press/all/2018-305-new-eib-investment-report-eu-risks-losing-ground-on-innovation-to-us-and-china|access-date=2021-04-16|website=European Investment Bank|language=en}}</ref><ref>{{Cite web|title=Reviving European innovation {{!}} McKinsey|url=https://www.mckinsey.com/featured-insights/innovation-and-growth/reviving-innovation-in-europe|access-date=2021-04-16|website=www.mckinsey.com}}</ref><ref>{{Cite web|title=Sweet finance helps Jennewein ferment human breast-milk sugars|url=https://www.eib.org/en/stories/synthesised-human-breast-milk-sugar|access-date=2021-04-16|website=European Investment Bank|language=en}}</ref> +----With EIB financing, innovations from firms like Jennewein can remain in Europe, and not be outsourced to the United States.<ref>{{Cite web|title=New EIB investment report: EU risks losing ground on innovation to US and China|url=https://www.eib.org/en/press/all/2018-305-new-eib-investment-report-eu-risks-losing-ground-on-innovation-to-us-and-china|access-date=2021-04-16|website=European Investment Bank|language=en}}</ref><ref>{{Cite web|title=Reviving European innovation {{!}} McKinsey|url=https://www.mckinsey.com/featured-insights/innovation-and-growth/reviving-innovation-in-europe|access-date=2021-04-16|website=www.mckinsey.com}}</ref><ref>{{Cite web|title=Sweet finance helps Jennewein ferment human breast-milk sugars|url=https://www.eib.org/en/stories/synthesised-human-breast-milk-sugar|access-date=2021-04-16|website=European Investment Bank|language=en}}</ref> Jennewein, established in 2005 in Rheinbreitbach, obtained a €10 million loan from the [[European Investment Bank]]'s InnovFin Growth Capital Initiative in 2015 to help start the company's first plant. Jennewein was able to secure the quickest innovative product registration from the [[Food and Drug Administration|US Food and Drug Administration]] and then the [[European Food Safety Authority]] as a result of this.<ref>{{Cite web|title=JENNEWEIN (EGFF)|url=https://www.eib.org/en/projects/pipelines/all/20180330|access-date=2021-04-16|website=www.eib.org}}</ref><ref>{{Cite web|last=GmbH|first=Jennewein Biotechnologie|title=EIB Provides Funding to Jennewein|url=https://www.prnewswire.com/news-releases/eib-provides-funding-to-jennewein-853253992.html|access-date=2021-04-16|website=www.prnewswire.com|language=en}}</ref><ref>{{Cite web|title=EIB Provides Funding to Jennewein {{!}} Markets Insider|url=https://markets.businessinsider.com/news/stocks/eib-provides-funding-to-jennewein-1027393128|access-date=2021-04-16|website=markets.businessinsider.com}}</ref><ref>{{Cite web|title=Sweet finance helps Jennewein ferment human breast-milk sugars|url=https://www.eib.org/en/stories/synthesised-human-breast-milk-sugar|access-date=2021-04-16|website=European Investment Bank|language=en}}</ref> @@ -25,6 +22,5 @@ Jennewein received a second European Investment Bank loan in 2018 from the [[European Fund for Strategic Investments]], which paired EU bank funding with a budget guarantee from the EU. Since the company was still in the early stages of growth, commercial banks were reluctant to participate. The European Investment Bank provided funding in the form of venture debt with equity-like characteristics.<ref>{{Cite web|title=EIB Provides Funding to Jennewein {{!}} Markets Insider|url=https://markets.businessinsider.com/news/stocks/eib-provides-funding-to-jennewein-1027393128|access-date=2021-04-16|website=markets.businessinsider.com}}</ref><ref>{{Cite web|title=European fund for strategic investments (EFSI)|url=https://www.consilium.europa.eu/en/policies/investment-plan/strategic-investments-fund/|access-date=2021-04-16|website=www.consilium.europa.eu|language=en}}</ref><ref>{{Cite web|title=Sweet finance helps Jennewein ferment human breast-milk sugars|url=https://www.eib.org/en/stories/synthesised-human-breast-milk-sugar|access-date=2021-04-16|website=European Investment Bank|language=en}}</ref><ref>{{Cite web|date=2018-10-19|title=EIB Finances Jennewein Biotechnologie|url=https://www.marketsgermany.com/eib-finances-jennewein-biotechnologie/|access-date=2021-04-16|website=GTAI - Markets Germany|language=de-DE}}</ref> According to the [[European Commission]], a 10% rise in digital coverage could result in a more than 1% increase in African GDP. The European Investment Bank makes funding emerging developments on the continent a priority, in line with the EU's plan for African digital transformation.<ref>{{Cite web|title=Press corner|url=https://ec.europa.eu/commission/presscorner/home/en|access-date=2021-04-16|website=European Commission - European Commission|language=en}}</ref><ref name=":3">{{Cite web|title=How digitalisation fights COVID-19 and climate change in Africa|url=https://www.eib.org/en/stories/africa-digitalisation|access-date=2021-04-16|website=European Investment Bank|language=en}}</ref> - -According to the [[European Commission]], a 10% rise in digital coverage could result in a more than 1% increase in African GDP. The European Investment Bank makes funding emerging developments on the continent a priority, in line with the EU's plan for African digital transformation.<ref>{{Cite web|title=Press corner|url=https://ec.europa.eu/commission/presscorner/home/en|access-date=2021-04-16|website=European Commission - European Commission|language=en}}</ref><ref name=":3">{{Cite web|title=How digitalisation fights COVID-19 and climate change in Africa|url=https://www.eib.org/en/stories/africa-digitalisation|access-date=2021-04-16|website=European Investment Bank|language=en}}</ref> +----According to the [[European Commission]], a 10% rise in digital coverage could result in a more than 1% increase in African GDP. The European Investment Bank makes funding emerging developments on the continent a priority, in line with the EU's plan for African digital transformation.<ref>{{Cite web|title=Press corner|url=https://ec.europa.eu/commission/presscorner/home/en|access-date=2021-04-16|website=European Commission - European Commission|language=en}}</ref><ref name=":3">{{Cite web|title=How digitalisation fights COVID-19 and climate change in Africa|url=https://www.eib.org/en/stories/africa-digitalisation|access-date=2021-04-16|website=European Investment Bank|language=en}}</ref> The European Investment Bank approved more than €600 million of investment in Africa's digital sector in the past five years. <ref>{{Cite web|title=Africa’s digital solutions to tackle COVID-19|url=https://www.eib.org/en/publications/african-digital-best-practice-to-tackle-covid-19|access-date=2021-04-16|website=European Investment Bank|language=en}}</ref><ref>{{Cite web|title=Mobilising Investments for African structural sustainable transformation {{!}} The Africa-EU Partnership|url=https://africa-eu-partnership.org/en/strategic-priority-areas/mobilising-investments-african-structural-sustainable-transformation|access-date=2021-04-16|website=africa-eu-partnership.org}}</ref><ref name=":3" /> @@ -33,5 +29,6 @@ Orange Guinée builds off-grid sites that improve the cell network using masts powered by photovoltaic panels, expanding coverage in rural areas and strengthening coverage in urban areas . This is being financed with a $30 million loan from the European Investment Bank. These [[Solar power|solar-powered cell telecommunications a]]<nowiki/>ntennae will slash grid fuel usage by more than 80%.<ref>{{Cite web|date=2019-03-19|title=Onsite solar and storage powers off-grid telecom towers|url=https://energypost.eu/onsite-solar-and-storage-powers-off-grid-telecom-towers/|access-date=2021-04-16|website=Energy Post|language=en-GB}}</ref><ref name=":3" /> -[[Carbon]] is used as both a source of electricity and a feedstock in these sectors, making [[Low-carbon economy|decarbonization]] impossible. If [[Carbon dioxide|CO2]] emissions and sources are to be captured and stopped from entering the atmosphere, an alternate chemical solution must be formulated that achieves the desired output while not releasing CO2 as a by-product.<ref name=":4">{{Cite web|title=How it works: Innovation to decarbonise energy-intensive industries|url=https://www.eib.org/en/stories/decarbonisation-technologies|access-date=2021-04-16|website=European Investment Bank|language=en}}</ref><ref>{{Cite web|title=Carbon Capture - an overview {{!}} ScienceDirect Topics|url=https://www.sciencedirect.com/topics/engineering/carbon-capture|access-date=2021-04-16|website=www.sciencedirect.com}}</ref> +[[Carbon]] is used as both a source of electricity and a feedstock in these sectors, making [[Low-carbon economy|decarbonization]] impossible. +----If [[Carbon dioxide|CO2]] emissions and sources are to be captured and stopped from entering the atmosphere, an alternate chemical solution must be formulated that achieves the desired output while not releasing CO2 as a by-product.<ref name=":4">{{Cite web|title=How it works: Innovation to decarbonise energy-intensive industries|url=https://www.eib.org/en/stories/decarbonisation-technologies|access-date=2021-04-16|website=European Investment Bank|language=en}}</ref><ref>{{Cite web|title=Carbon Capture - an overview {{!}} ScienceDirect Topics|url=https://www.sciencedirect.com/topics/engineering/carbon-capture|access-date=2021-04-16|website=www.sciencedirect.com}}</ref> [[Carbon]] is used as both a source of electricity and a feedstock in these sectors, making [[Low-carbon economy|decarbonization]] impossible. If [[Carbon dioxide|CO2]] emissions and sources are to be captured and stopped from entering the atmosphere, an alternate chemical solution must be formulated that achieves the desired output while not releasing CO2 as a by-product.<ref name=":4">{{Cite web|title=How it works: Innovation to decarbonise energy-intensive industries|url=https://www.eib.org/en/stories/decarbonisation-technologies|access-date=2021-04-16|website=European Investment Bank|language=en}}</ref><ref>{{Cite web|title=Carbon Capture - an overview {{!}} ScienceDirect Topics|url=https://www.sciencedirect.com/topics/engineering/carbon-capture|access-date=2021-04-16|website=www.sciencedirect.com}}</ref> @@ -40,5 +37,4 @@ Due to the increasing cost of [[Carbon dioxide|CO2]] emissions, CO2-intensive processing would increasingly become more costly. Simultaneously, as innovations advance and are implemented on a wider scale, decarbonized manufacturing should become more affordable. Emission-intensive manufacturing will become obsolete at some stage in the future, at a CO2-emission price that is obviously much higher than it is currently.<ref>{{Cite web|title=Our Insights {{!}} McKinsey & Company|url=https://www.mckinsey.com/business-functions/sustainability/our-insights|access-date=2021-04-16|website=www.mckinsey.com|language=en}}</ref><ref>{{Cite web|title=How it works: Innovation to decarbonise energy-intensive industries|url=https://www.eib.org/en/stories/decarbonisation-technologies|access-date=2021-04-16|website=European Investment Bank|language=en}}</ref> - There are five technologies commonly identified in [[Decarbonisation|decarbonisation:]] @@ -49,17 +45,14 @@ - [[Carbon capture and storage|carbon capture and storage.]] This is where [[Greenhouse gas|greenhouse gases]] are isolated from other natural gases, compressed, and injected into the earth to avoid being emitted into the atmosphere. The aim of this method is to turn industrial gases into something valuable, such as ethanol or raw materials for the chemical industry.<ref>{{Cite journal|date=2020-05-15|title=Technologies and policies to decarbonize global industry: Review and assessment of mitigation drivers through 2070|url=https://www.sciencedirect.com/science/article/pii/S0306261920303603|journal=Applied Energy|language=en|volume=266|pages=114848|doi=10.1016/j.apenergy.2020.114848|issn=0306-2619}}</ref> - Countries like Europe and the United States, which have had a high degree of industrial growth for decades, have a huge stock of steel circulating in their economies that can be recycled. However, in a country like China, where growth is so rapid, the available stock of steel that can be recycled is limited in contrast to the need for new cities and infrastructure. <ref>{{Cite web|title=Circular economy - waste and materials {{!}} Environment at a Glance Indicators – Circular economy - waste and materials {{!}} OECD iLibrary|url=https://www.oecd-ilibrary.org/sites/f5670a8d-en/index.html?itemId=/content/component/f5670a8d-en|access-date=2021-04-16|website=www.oecd-ilibrary.org|language=en}}</ref><ref>{{Cite web|title=How it works: Innovation to decarbonise energy-intensive industries|url=https://www.eib.org/en/stories/decarbonisation-technologies|access-date=2021-04-16|website=European Investment Bank|language=en}}</ref> An obstacle is that these green manufacturing methods must deal with products manufactured from outside the EU, which are mostly cheaper and produced using carbon-emitting, traditional technology. The obstacle in green manufacturing methods is that they must deal with products manufactured from outside the EU, which are mostly cheaper and produced using carbon-emitting, traditional technology.<ref name=":5">{{Cite web|last=Anonymous|date=2016-11-23|title=Publications|url=https://ec.europa.eu/clima/publications_en|access-date=2021-04-19|website=Climate Action - European Commission|language=en}}</ref><ref name=":4" /> - -Addressing climate change uncertainties entails adhering to both public policies and good banking practices.<ref name=":5" /><ref>{{Cite web|title=Firms need to assess climate change as a financial risk|url=https://www.eib.org/en/stories/climate-change-financial-risk|access-date=2021-04-19|website=European Investment Bank|language=en}}</ref> +----Addressing climate change uncertainties entails adhering to both public policies and good banking practices.<ref name=":5" /><ref>{{Cite web|title=Firms need to assess climate change as a financial risk|url=https://www.eib.org/en/stories/climate-change-financial-risk|access-date=2021-04-19|website=European Investment Bank|language=en}}</ref> For the sake of the war against climate change, it is the European Investment Bank's responsibility to assist countries in identifying climate threats and increasing the resilience of their programs.<ref>{{Cite web|title=Firms need to assess climate change as a financial risk|url=https://www.eib.org/en/stories/climate-change-financial-risk|access-date=2021-04-19|website=European Investment Bank|language=en}}</ref> “It’s a DNA change at the Bank, where we accelerate the transition through green finance and pull out all the stops to make the European Green Deal a success.” - Stephen O'Driscoll, head of the Environment, Climate and Social Office at the European Investment Bank.<ref name=":6">{{Cite web|title=A plan for the long haul to contribute finance to the European Green Deal|url=https://www.eib.org/en/stories/climate-bank-roadmap|access-date=2021-04-19|website=European Investment Bank|language=en}}</ref> - -“When we think about livelihoods at risk from climate change impacts, we know that people living in developing countries, and especially the least-developed countries and small island states, often have the least financial resources to adapt," says Nancy Saich, the Bank’s chief climate change expert."<ref name=":6" /> +----“When we think about livelihoods at risk from climate change impacts, we know that people living in developing countries, and especially the least-developed countries and small island states, often have the least financial resources to adapt," says Nancy Saich, the Bank’s chief climate change expert."<ref name=":6" /> The European Investment Bank has provided €170 billion in climate funding, which has funded over €600 billion in programs to mitigate emissions and help people respond to climate change and biodiversity depletion across Europe and the world.<ref>{{Cite web|last=Ltd|first=World Climate|date=2020-10-27|title=CIS Interview: Vice President Ambroise Fayolle, the European Investment Bank|url=https://www.climateinvestmentsummit.org/post/cis-interview-vice-president-ambroise-fayolle-the-european-investment-bank|access-date=2021-04-19|website=CIS|language=en}}</ref><ref name=":6" /> @@ -67,6 +60,5 @@ Around 2015 and 2020, the [[Juncker Plan]] contributed significantly to the creation of 14 million jobs in the [[European Union|EU]].<ref name=":7">{{Cite web|title=The Juncker Plan - the vehicle for revived European ambition?|url=https://www.robert-schuman.eu/en/european-issues/0347-the-juncker-plan-the-vehicle-for-revived-european-ambition|access-date=2021-04-19|website=www.robert-schuman.eu}}</ref><ref>{{Cite web|title=Press corner|url=https://ec.europa.eu/commission/presscorner/home/en|access-date=2021-04-19|website=European Commission - European Commission|language=en}}</ref><ref>{{Cite web|title=How the heads of the EU and its bank invented a €500 billion programme|url=https://www.eib.org/en/essays/european-fund-for-strategic-investments-genesis|access-date=2021-04-19|website=European Investment Bank|language=en}}</ref> - -For the European Investment Bank, the [[Juncker Plan]] meant a transition from output—making large loans to big projects—to effect, in which every euro it loaned had to result in a net contribution of €15 until other investors' funds were factored in.<ref>{{Cite web|title=How the heads of the EU and its bank invented a €500 billion programme|url=https://www.eib.org/en/essays/european-fund-for-strategic-investments-genesis|access-date=2021-04-19|website=European Investment Bank|language=en}}</ref> +----For the European Investment Bank, the [[Juncker Plan]] meant a transition from output—making large loans to big projects—to effect, in which every euro it loaned had to result in a net contribution of €15 until other investors' funds were factored in.<ref>{{Cite web|title=How the heads of the EU and its bank invented a €500 billion programme|url=https://www.eib.org/en/essays/european-fund-for-strategic-investments-genesis|access-date=2021-04-19|website=European Investment Bank|language=en}}</ref> During the recession, investment volumes plunged and stayed well below pre-crisis peaks. The banking industry lacked risk-taking capability. The government's expenses have been slashed. Other issues included the immaturity of European capital markets and the inconsistency of regulatory environments in the EU. <ref name=":7" /> @@ -75,7 +67,5 @@ Economists predict that [[European Fund for Strategic Investments|EFSI]] investments will raise [[European Union|EU]] GDP by 1.9 trillion and generate 1.8 million jobs by 2022, relative to the baseline scenario.<ref>{{Cite web|title=EIB Group impact: Boosting GDP and jobs|url=https://www.eib.org/en/about/key-figures/eib-impacts/index.htm|access-date=2021-04-19|website=EIB.org|language=en}}</ref> - - -The European Circular Bioeconomy Fund invests in early-stage companies with developed innovations that are searching for funds to broaden their activities and reach new markets.<ref>{{Cite web|title=ECBF - European Circular Bioeconomy Fund {{!}} Bio-Based Industries - Public-Private Partnership|url=https://www.bbi.europa.eu/ecbf-european-circular-bioeconomy-fund|access-date=2021-04-19|website=www.bbi.europa.eu}}</ref><ref>{{Cite web|title=About|url=https://www.ecbf.vc/team|access-date=2021-04-19|website=ECBF|language=en-US}}</ref><ref>{{Cite web|title=European Circular Bioeconomy Fund » Circular City Funding Guide|url=https://www.circularcityfundingguide.eu/funding-types-and-their-applicability/debt/public-banks/european-circular-bioeconomy-fund/|access-date=2021-04-19|website=Circular City Funding Guide|language=en-US}}</ref><ref name=":8">{{Cite web|title=Bioeconomy investment fund shows what Monty Python forgot about lupins|url=https://www.eib.org/en/stories/bioeconomy-investment-fund|access-date=2021-04-19|website=European Investment Bank|language=en}}</ref> +----The European Circular Bioeconomy Fund invests in early-stage companies with developed innovations that are searching for funds to broaden their activities and reach new markets.<ref>{{Cite web|title=ECBF - European Circular Bioeconomy Fund {{!}} Bio-Based Industries - Public-Private Partnership|url=https://www.bbi.europa.eu/ecbf-european-circular-bioeconomy-fund|access-date=2021-04-19|website=www.bbi.europa.eu}}</ref><ref>{{Cite web|title=About|url=https://www.ecbf.vc/team|access-date=2021-04-19|website=ECBF|language=en-US}}</ref><ref>{{Cite web|title=European Circular Bioeconomy Fund » Circular City Funding Guide|url=https://www.circularcityfundingguide.eu/funding-types-and-their-applicability/debt/public-banks/european-circular-bioeconomy-fund/|access-date=2021-04-19|website=Circular City Funding Guide|language=en-US}}</ref><ref name=":8">{{Cite web|title=Bioeconomy investment fund shows what Monty Python forgot about lupins|url=https://www.eib.org/en/stories/bioeconomy-investment-fund|access-date=2021-04-19|website=European Investment Bank|language=en}}</ref> The [[Bioeconomy|bio-economy]], especially the circular bioeconomy, decreases our dependency on natural resources by encouraging sustainable goods that generate food, materials, and energy using [[Renewable resource|renewable biological resources]] (such as [[Lupinus|lupins]]). According to the [[European Commission]]'s EU Science Center, it produces €1.5 trillion in value added, accounting for 11% of EU GDP. The [[European Investment Bank]] invests between €6 billion and €9 billion in the [[Biobased economy|bio-economy]] per year, with the industry employing 8% of the EU workforce.<ref name=":8" /><ref>{{Cite web|title=The circular economy and the bioeconomy — Partners in sustainability — European Environment Agency|url=https://www.eea.europa.eu/publications/circular-economy-and-bioeconomy|access-date=2021-04-19|website=www.eea.europa.eu|language=en}}</ref> @@ -94,14 +84,10 @@ * Bio-based chemicals and materials * Biological alternatives in fields such as cosmetics<ref name=":8" /> <ref>{{Cite web|title=Investment Focus|url=https://www.ecbf.vc/investment-focus|access-date=2021-04-20|website=ECBF|language=en-US}}</ref> - - -The [[European Investment Bank]] signed a €75 million loan with [[ArcelorMittal]] Belgium in May 2020 under the [[European Commission]]'s InnovFin Energy Demonstration Projects facility to partly fund the development of the new facilities.<ref>{{Cite web|title=The European Investment Bank (EIB) has granted a €75 million loan to ArcelorMittal for scaling up breakthrough technology - Latest news|url=http://www.steelanol.eu/en/news/the-european-investment-bank-eib-has-granted-a-75-million-loan-to-arcelormittal-for-scaling-up-breakthrough-technology|access-date=2021-04-20|website=Steelanol|language=en}}</ref><ref>{{Cite web|title=EU supports ArcelorMittal with EUR 75m EIB loan to scale up breakthrough technology to reduce carbon emissions {{!}} ArcelorMittal|url=https://corporate.arcelormittal.com/media/news-articles/eu-supports-arcelormittal-with-eur-75m-eib-loan-to-scale-up-breakthrough-technology-to-reduce-carbon-emissions|access-date=2021-04-20|website=corporate.arcelormittal.com|language=en}}</ref><ref name=":9">{{Cite web|title=Decarbonisation steel technology makes ‘green’ steel and extra biofuel|url=https://www.eib.org/en/stories/steel-decarbonisation-technology|access-date=2021-04-20|website=European Investment Bank|language=en}}</ref> +----The [[European Investment Bank]] signed a €75 million loan with [[ArcelorMittal]] Belgium in May 2020 under the [[European Commission]]'s InnovFin Energy Demonstration Projects facility to partly fund the development of the new facilities.<ref>{{Cite web|title=The European Investment Bank (EIB) has granted a €75 million loan to ArcelorMittal for scaling up breakthrough technology - Latest news|url=http://www.steelanol.eu/en/news/the-european-investment-bank-eib-has-granted-a-75-million-loan-to-arcelormittal-for-scaling-up-breakthrough-technology|access-date=2021-04-20|website=Steelanol|language=en}}</ref><ref>{{Cite web|title=EU supports ArcelorMittal with EUR 75m EIB loan to scale up breakthrough technology to reduce carbon emissions {{!}} ArcelorMittal|url=https://corporate.arcelormittal.com/media/news-articles/eu-supports-arcelormittal-with-eur-75m-eib-loan-to-scale-up-breakthrough-technology-to-reduce-carbon-emissions|access-date=2021-04-20|website=corporate.arcelormittal.com|language=en}}</ref><ref name=":9">{{Cite web|title=Decarbonisation steel technology makes ‘green’ steel and extra biofuel|url=https://www.eib.org/en/stories/steel-decarbonisation-technology|access-date=2021-04-20|website=European Investment Bank|language=en}}</ref> [[ArcelorMittal]] Belgium, the world's largest steelmaker, is putting in place a first-of-its-kind, revolutionary technology at a size and scope that has never been seen before. The initiative is in accordance with ArcelorMittal Europe's pollution reduction roadmap, which plans for a 30% reduction in [[carbon emissions]] by 2030 and [[carbon neutrality]] by 2050.<ref name=":9" /><ref name=":10">{{Cite web|title=ArcelorMittal welcomes European Commission's policy proposals to support new emissions reduction target|url=https://luxembourg.arcelormittal.com/challenges/21/462/language/EN|access-date=2021-04-20|website=luxembourg.arcelormittal.com}}</ref><ref name=":11">{{Cite web|last=S.A|first=ArcelorMittal|date=2020-06-25|title=ArcelorMittal Europe sets out path to net zero by 2050, with pioneering technologies at the forefront of the company’s roadmap for carbon-neutral steelmaking|url=https://www.globenewswire.com/news-release/2020/06/25/2053207/0/en/ArcelorMittal-Europe-sets-out-path-to-net-zero-by-2050-with-pioneering-technologies-at-the-forefront-of-the-company-s-roadmap-for-carbon-neutral-steelmaking.html|access-date=2021-04-20|website=GlobeNewswire News Room|language=en}}</ref> Instead of using electricity, this technology seeks to generate ethanol using 15% of the by-product gases. However, Arcelor Mittal's aim is to gradually and fully replace its internal power plants with the conversion of off-gases into ethanol—or, in the future, other base chemical products.<ref name=":9" /><ref name=":10" /><ref name=":11" /> - - -Nilar has spent over fifteen years designing nickel-based batteries in a new large format, and went commercial in 2019. The company's nickel metal hydride batteries are intended for use in domestic, private, public, and industrial settings to store renewable energy. Nickel is a heavier metal than lithium, which is found in hybrid vehicles, but it isn't used in fully electric vehicles. However, since nickel metal hydride batteries are non-flammable, Nilar's Hydride energy storage batteries are suitable for use in houses. They have a twenty-year life expectancy and can be recycled at a low cost.<ref>{{Cite web|title=About|url=https://www.nilar.com/about/|access-date=2021-04-20|website=Nilar|language=en-US}}</ref><ref>{{Cite web|last=Stevens|first=Pippa|date=2019-12-30|title=The battery decade: How energy storage could revolutionize industries in the next 10 years|url=https://www.cnbc.com/2019/12/30/battery-developments-in-the-last-decade-created-a-seismic-shift-that-will-play-out-in-the-next-10-years.html|access-date=2021-04-20|website=CNBC|language=en}}</ref><ref name=":12">{{Cite web|title=Even without sun and wind, get a charge from Swedish battery companies|url=https://www.eib.org/en/stories/swedish-battery-companies|access-date=2021-04-20|website=European Investment Bank|language=en}}</ref> +----Nilar has spent over fifteen years designing nickel-based batteries in a new large format, and went commercial in 2019. The company's nickel metal hydride batteries are intended for use in domestic, private, public, and industrial settings to store renewable energy. Nickel is a heavier metal than lithium, which is found in hybrid vehicles, but it isn't used in fully electric vehicles. However, since nickel metal hydride batteries are non-flammable, Nilar's Hydride energy storage batteries are suitable for use in houses. They have a twenty-year life expectancy and can be recycled at a low cost.<ref>{{Cite web|title=About|url=https://www.nilar.com/about/|access-date=2021-04-20|website=Nilar|language=en-US}}</ref><ref>{{Cite web|last=Stevens|first=Pippa|date=2019-12-30|title=The battery decade: How energy storage could revolutionize industries in the next 10 years|url=https://www.cnbc.com/2019/12/30/battery-developments-in-the-last-decade-created-a-seismic-shift-that-will-play-out-in-the-next-10-years.html|access-date=2021-04-20|website=CNBC|language=en}}</ref><ref name=":12">{{Cite web|title=Even without sun and wind, get a charge from Swedish battery companies|url=https://www.eib.org/en/stories/swedish-battery-companies|access-date=2021-04-20|website=European Investment Bank|language=en}}</ref> The cost of [[Lithium-ion battery|lithium-ion batteries]] for electric vehicles has fallen by approximately 90% since 2010, and the cost of nickel stationary storage batteries has dropped by about two-thirds since 2010. Still, however, almost all modern batteries are supplied from outside the [[European Union]].<ref name=":12" /><ref>{{Cite journal|date=2017-10-11|title=Lithium-Ion Battery Supply Chain Considerations: Analysis of Potential Bottlenecks in Critical Metals|url=https://www.sciencedirect.com/science/article/pii/S2542435117300442|journal=Joule|language=en|volume=1|issue=2|pages=229–243|doi=10.1016/j.joule.2017.08.019|issn=2542-4351}}</ref><ref>{{Cite web|title=Global EV Outlook 2020 – Analysis|url=https://www.iea.org/reports/global-ev-outlook-2020|access-date=2021-04-20|website=IEA|language=en-GB}}</ref> @@ -112,7 +98,95 @@ Nilar will use a €46 million loan from the [[European Investment Bank]] to expand from one to eight production lines.<ref name=":12" /><ref>{{Cite web|title=The European Investment Bank has signed a EUR 47 million financing agreement with Swedish innovative battery technology company Nilar.|url=https://www.vinge.se/en/mandates/the-european-investment-bank-has-signed-a-eur-47-million-financing-agreement-with-swedish-innovative-battery-technology-company-nilar/|access-date=2021-04-20|website=www.vinge.se|language=en}}</ref> +----Catarina, an associate professor at [[Eindhoven University of Technology]], had created a cloth coating of polymers that could absorb water molecules from the air at night, when temperatures were down, and then automatically ring it out the next day, when temperatures were higher.<ref>{{Cite web|title=Polymer Technology|url=https://www.tue.nl/en/research/research-groups/polymer-technology/|access-date=2021-04-20|website=www.tue.nl|language=English}}</ref><ref name=":13">{{Cite web|title=Production of recyclable plastic a step closer|url=https://www.tue.nl/en/our-university/departments/mathematics-and-computer-science/the-department/news/news-overview/production-of-recyclable-plastic-a-step-closer/|access-date=2021-04-20|website=www.tue.nl|language=English}}</ref> + +Sponsh is the winner of a €50,000 cash prize from the special division in the European Investment Bank Institute's 2020 Social Innovation Tournament. Entrepreneurs that are developing companies that solve social issues are recognized in this competition.<ref name=":13" /><ref name=":14">{{Cite web|title=Social Innovation Tournament {{!}} EIB Institute|url=https://institute.eib.org/social-innovation-tournament-2/|access-date=2021-04-20|website=institute.eib.org}}</ref> Sponsh will bring the money collected from the Social Creativity Tournament into a large-scale pilot project involving the planting of 1,000 trees with Sponsh tree guards as part of the AlVelAl land regeneration project in Almeria, Spain. The campaign is coordinated by Commonland.org, which is working to regenerate 180 000 hectares in the region.<ref name=":13" /><ref name=":14" /> The company is designing and testing tree guards with special inserts that pull moisture from the air at night when it is cold, then release it during the day when the sun warms the guard and the air, supplying a sapling with 10 to 100 ml of water per day during its most vulnerable season. After a year or two of providing protection to a young tree, the guards will decay naturally.<ref name=":13" /><ref name=":14" /> +----One of the first transactions made under the new legislation was the Ignitis scheme. According to Kazakevic, “Poland is becoming almost a trendy country for renewable energy investment.” She adds that the [[European Investment Bank]]'s loan of about €60 million to the project illustrated "that we have investors with a green development agenda."<ref name=":15">{{Cite web|title=International investors enter Poland renewable energy market after rule change|url=https://www.eib.org/en/stories/poland-renewable-energy|access-date=2021-04-20|website=European Investment Bank|language=en}}</ref><ref>{{Cite web|title=Press corner|url=https://ec.europa.eu/commission/presscorner/home/en|access-date=2021-04-20|website=European Commission - European Commission|language=en}}</ref> + +A portfolio of 66 small-scale, self-contained photovoltaic plants distributed throughout the country's northern and central regions. This €18 million deal with another Lithuanian firm, asset manager Lords LB, was also backed by EFSI and will save 47 000 tonnes of [[Carbon dioxide|CO2]] each year.<ref name=":15" /><ref>{{Cite web|title=Unconventional Mitigation|url=https://www.swp-berlin.org/10.18449/2020RP08/|access-date=2021-04-20|website=www.swp-berlin.org|language=en|doi=10.18449/2020rp08/}}</ref><ref>{{Cite web|title=€33 trillion investor group: strong EU climate targets key to economic recovery & future growth – IIGCC|url=https://www.iigcc.org/news/e33-trillion-investor-group-strong-eu-climate-targets-key-to-economic-recovery-future-growth/|access-date=2021-04-20|language=en-GB}}</ref> + +The European Commission's climate change strategy, launched in 2020, is focused on a promise to make Europe a net-zero emitter of greenhouse gases by 2050 and to demonstrate that economies will develop without increasing resource usage. However, the Green Deal has measures to ensure that nations that are already reliant on fossil fuels are not left behind in the transition to renewable energy. This is critical for Poland, which has a large coal industry.<ref name=":15" /><ref>{{Cite web|title=Unconventional Mitigation|url=https://www.swp-berlin.org/10.18449/2020RP08/|access-date=2021-04-20|website=www.swp-berlin.org|language=en|doi=10.18449/2020rp08/}}</ref><ref>{{Cite web|title=€33 trillion investor group: strong EU climate targets key to economic recovery & future growth – IIGCC|url=https://www.iigcc.org/news/e33-trillion-investor-group-strong-eu-climate-targets-key-to-economic-recovery-future-growth/|access-date=2021-04-20|language=en-GB}}</ref> +----In 2020, the European Investment Bank accepted a €95 million loan to assist Barcelona in the completion of approximately 40 projects, with an emphasis on climate change and social inequity. The city plans to redevelop streets to create more space for pedestrians and bicyclists, enhance building energy efficiency, and expand social, cultural, and recreational opportunities.<ref name=":16">{{Cite web|title=Barcelona creates more green space as COVID-19 urban planning meets climate action|url=https://www.eib.org/en/stories/covid-19-urban-planning|access-date=2021-04-20|website=European Investment Bank|language=en}}</ref><ref>{{Cite web|title=Continued EU funding commitment to support energy efficiency in urban areas|url=https://ec.europa.eu/info/news/continued-eu-funding-commitment-support-energy-efficiency-urban-areas-2021-jan-29_en|access-date=2021-04-20|website=European Commission - European Commission|language=en}}</ref><ref>{{Cite web|last=July 13|last2=2020|title=European Investment Bank Finances Large-Scale Solar PV Project in Spain - Sustainable Recovery 2020|url=https://www.iisd.org/sustainable-recovery/news/eib-finances-large-scale-solar-pv-project-in-spain/|access-date=2021-04-20|website=www.iisd.org|language=en-US}}</ref> + +The European Investment Bank is assisting cities in the development of long-term strategies in fields including renewable transportation, energy efficiency, sustainable housing, education, and health care. The Bank has spent more than €150 billion in bettering cities over the last eight years.<ref name=":16" /><ref>{{Cite web|title=Urban Development sector|url=https://www.eib.org/en/projects/sectors/urban-development/index.htm|access-date=2021-04-20|website=EIB.org|language=en}}</ref> + +Berriochoa adds that Barcelona chooses the European Investment Bank to fund these ventures because it needs to partner with an environment bank. “They want green financing and this is what we provide. We can help them meet their climate goals.”<ref name=":16" /><ref>{{Cite web|title=BARCELONA COVID-19 SOCIAL AND EFFICIENT HOUSING|url=https://www.eib.org/en/projects/pipelines/all/20200747|access-date=2021-04-20|website=www.eib.org}}</ref> +----When terrestrial networks are disrupted by natural disasters such as storms or earthquakes, satellites that take photographs of climate change assist civilians and emergency responders. In the event of a pandemic, they remotely bind remote patients or those living in rural areas to health care providers. They will have statistics on the risks of global warming, as well as the European Investment Bank's success in mitigating it.<ref name=":17">{{Cite web|title=D-Orbit brings tiny nano satellites to space for collecting climate change data|url=https://www.eib.org/en/stories/climate-change-data-from-space|access-date=2021-04-20|website=European Investment Bank|language=en}}</ref><ref>{{Cite book|last=Fajardo|first=Carlos Alberto Burguillos|url=https://www.intechopen.com/books/natural-hazards-risk-exposure-response-and-resilience/emergency-communications-network-for-disaster-management|title=Emergency Communications Network for Disaster Management|date=2019-08-28|publisher=IntechOpen|isbn=978-1-78984-086-5|language=en}}</ref> + +D-ION Orbit's satellite carrier has secured a €15 million loan from the European Investment Bank. The funding is part of a Memorandum of Understanding between the European Investment Bank and the European Space Agency that was signed in 2018.<ref name=":17" /><ref>{{Cite web|title=EIB Announces First Direct financing for a start-up in the European New Space sector - 20 million euro venture loan for Spire Global|url=http://space-agency.public.lu/en/news-media/news/2020/SpireGlobal.html|access-date=2021-04-20|website=space-agency.public.lu|language=en}}</ref> + +Each of the miniature CubeSats weighs a few kilograms. Other types of payloads, such as technologies created by start-ups, academic organisations, and space firms that need to test and verify a technology in space before commercialisation, are also feasible.<ref name=":17" /><ref>{{Cite journal|date=2019-10-15|title=Small satellites for space science: A COSPAR scientific roadmap|url=https://www.sciencedirect.com/science/article/pii/S0273117719305411|journal=Advances in Space Research|language=en|volume=64|issue=8|pages=1466–1517|doi=10.1016/j.asr.2019.07.035|issn=0273-1177}}</ref> + +The organization also developed a D3 (D-Orbit Decommissioning Device) system, which has obtained funding from the European Commission and the European Space Agency, to safely dispose of satellites at the end of their lives and avoid adding to the problems created by the approximately 130 million pieces of space debris. According to D-Orbit, a space circular economy is feasible, and space recycling will soon be a new sector. This will involve using local resources such as dead satellites to create spaceships in space.<ref name=":17" /><ref>{{Cite web|title=Mitigating space debris generation|url=https://www.esa.int/Safety_Security/Space_Debris/Mitigating_space_debris_generation|access-date=2021-04-20|website=www.esa.int|language=en}}</ref> +D-Orbit is a successful alumnus of the European Space Agency's Lisbon incubator, and the two firms collaborated on Project Sunrise, an active debris removal project, in 2019.<ref name=":17" /><ref>{{Cite web|title=Stories: Meet D-Orbit, the EIC-funded startup cleaning up space junk in orbit {{!}} European Innovation Council|url=https://community-smei.easme-web.eu/articles/stories-meet-d-orbit-eic-funded-startup-cleaning-space-junk-orbit|access-date=2021-04-20|website=community-smei.easme-web.eu}}</ref> +----In cooperation with Switzerland's Plantahof, the Swiss Agricultural School Caucasus will offer short and long-term courses in cattle breeding and dairy production. It will run its own cheese factory and dairy farm as a non-profit private venture, with financing given by the [[Bank of Georgia]], as well as funds from Swiss and Georgian donors, the Swiss Department for Development and Collaboration, and the [[United Nations Development Programme]].<ref name=":18">{{Cite web|title=Georgian farmers get EU backing for a school project that scales up agriculture and education|url=https://www.eib.org/en/stories/georgian-farmers-get-eu-backing|access-date=2021-04-20|website=European Investment Bank|language=en}}</ref><ref>{{Cite web|last=samsiani|title=News|url=https://sasc.ge/en/news/|access-date=2021-04-20|website=SASC|language=en-US}}</ref> -Catarina, an associate professor at [[Eindhoven University of Technology]], had created a cloth coating of polymers that could absorb water molecules from the air at night, when temperatures were down, and then automatically ring it out the next day, when temperatures were higher.<ref>{{Cite web|title=Polymer Technology|url=https://www.tue.nl/en/research/research-groups/polymer-technology/|access-date=2021-04-20|website=www.tue.nl|language=English}}</ref><ref name=":13">{{Cite web|title=Production of recyclable plastic a step closer|url=https://www.tue.nl/en/our-university/departments/mathematics-and-computer-science/the-department/news/news-overview/production-of-recyclable-plastic-a-step-closer/|access-date=2021-04-20|website=www.tue.nl|language=English}}</ref> +The European Investment Bank signed a €50 million loan deal with the Bank of Georgia for SMEs and mid-caps, which will be partly disbursed in 2020. Bank of Georgia further loans the funds to nearby businesses, such as the Swiss Agricultural School Caucasus.<ref name=":18" /><ref>{{Cite web|title=European Investment Bank and Bank of Georgia join forces to support businesses during COVID-19 crisis {{!}} EU Neighbours|url=https://www.euneighbours.eu/en/east/stay-informed/news/european-investment-bank-and-bank-georgia-join-forces-support-businesses|access-date=2021-04-20|website=www.euneighbours.eu|language=en}}</ref> -Sponsh is the winner of a €50,000 cash prize from the special division in the European Investment Bank Institute's 2020 Social Innovation Tournament. Entrepreneurs that are developing companies that solve social issues are recognized in this competition.<ref name=":13" /><ref name=":14">{{Cite web|title=Social Innovation Tournament {{!}} EIB Institute|url=https://institute.eib.org/social-innovation-tournament-2/|access-date=2021-04-20|website=institute.eib.org}}</ref> Sponsh will bring the money collected from the Social Creativity Tournament into a large-scale pilot project involving the planting of 1,000 trees with Sponsh tree guards as part of the AlVelAl land regeneration project in Almeria, Spain. The campaign is coordinated by Commonland.org, which is working to regenerate 180 000 hectares in the region.<ref name=":13" /><ref name=":14" /> The company is designing and testing tree guards with special inserts that pull moisture from the air at night when it is cold, then release it during the day when the sun warms the guard and the air, supplying a sapling with 10 to 100 ml of water per day during its most vulnerable season. After a year or two of providing protection to a young tree, the guards will decay naturally.<ref name=":13" /><ref name=":14" /> +“In Georgia, SMEs are a key part of the economy,” Berkhoff says. “We demonstrate that SMEs benefit from the cooperation between Georgia and the EU. To back them, we work hand in hand with the EU Delegation and the Commission under the Eastern Partnership framework”.<ref name=":18" /> + +Team Europe, an EU package committed to delivering COVID-19 assistance to Georgia and other member countries, includes the European Investment Bank Group. This entails new support that is made available efficiently and in more flexible terms to assist companies in handling and emerging from the crisis. The EU Bank signed an additional loan of €25 million with the Bank of Georgia in December 2020, thanks to Team Europe and in compliance with the EIB's COVID-19 emergency measures, and added adjustable eligibility requirements to the operation with a total amount of €75 million.<ref name=":18" /><ref>{{Cite web|title=EIB Group and Bank of Georgia join forces to support businesses in Georgia to better deal with the consequences of the COVID-19 crisis|url=https://www.eif.org/what_we_do/guarantees/news/2020/eib-group-bank-of-georgia-support-businesses-better-deal-covid-19-consequences.htm|access-date=2021-04-20|website=www.eif.org}}</ref> +----Sensors that determine nutrient levels in the soil, assess air humidity, and track crops before they are harvested are making precision farming a possibility. Artificial intelligence-driven data is analysed by data systems and translated into interactive maps for farmers. Farmers can grow more for less by using less water and gasoline, as well as less pesticides and fertilisers. And there would be less emissions.<ref name=":19">{{Cite web|title=What is Agriculture 4.0? From AI to IoT, Italy brings you the tractor of the future|url=https://www.eib.org/en/stories/what-is-agriculture-4-0|access-date=2021-04-20|website=European Investment Bank|language=en}}</ref><ref>{{Cite web|last=Harman|first=Matt|date=2020-08-06|title=The Technology Behind a New Agricultural Revolution|url=https://www.esri.com/about/newsroom/blog/how-location-intelligence-powers-sustainable-agriculture/|access-date=2021-04-20|website=Esri|language=en-US}}</ref> + +SDF's farm equipment, machinery, and logistics research and development is funded by a €50 million EIB loan secured by the European Fund for Strategic Investments. The initiative is part of Horizon 2020 and is in accordance with the Paris Agreement's objectives.<ref name=":19" /><ref name=":20">{{Cite web|last=petroaa|date=2013-10-22|title=Climate Action, Environment, Resource Efficiency and Raw Materials|url=https://ec.europa.eu/programmes/horizon2020//en/h2020-section/climate-action-environment-resource-efficiency-and-raw-materials|access-date=2021-04-20|website=Horizon 2020 - European Commission|language=en}}</ref> + +Matteo Fusari, an EIB senior engineer who worked on the project, says, "We expect this project to have quite a good environmental impact." “It allows for vehicle automation and monitoring from a distance. These innovations will increase the efficiency of bioeconomy supply chains, in addition to reducing fuel consumption and CO2 emissions.”<ref name=":19" /><ref name=":20" /> + +SDF has developed its own digital portal, the SDF Data Platform, to transform the commodity cycle and build a larger, greener working ecosystem. SDF tractors can interface with the platform using an ISOBUS basic protocol, which is a common language that can be interpreted by a variety of devices. Farmers can view fleet, farm, and field data from a single location at any time. Thanks to the availability of this data and the underlying analytical methods, SDF is able to deliver easy and useful knowledge to its consumers in order to optimize performance while reducing input resources and preserving the environment.<ref name=":19" /><ref>{{Cite web|title=SDF Smart Farming Solutions: Guidance System & Data Management - DEUTZ-FAHR|url=https://www.deutz-fahr.com/en-eu/sdf-smart-farming-solutions/sdf-smart-farming-solutions|access-date=2021-04-20|website=www.deutz-fahr.com|language=en-gb}}</ref> +----SDF developed a rolling steam factory that could heat the world to 80 degrees Celsius down to 25 centimetres in ten years.<ref>{{Cite web|date=2020-03-19|title=About us|url=https://soilsteam.com/about-us/|access-date=2021-04-20|website=SoilSteam International|language=en-US}}</ref><ref name=":21">{{Cite web|title=Changing farming from the ground up and killing weeds organically|url=https://www.eib.org/en/stories/organic-farming-technology|access-date=2021-04-20|website=European Investment Bank|language=en}}</ref> + +A temperature of 80 degrees Celsius is sufficient to destroy weed seeds, nematodes, and various fungi while not totally sterilizing the soil. They were astounded by the findings. In several cases, yields rose by 75 percent, and the gains continued for many seasons.<ref name=":21" /><ref>{{Cite web|title=Replacing pesticides with steam and increasing harvests|url=https://www.theexplorer.no/solutions/soil-steam-international-replacing-pesticides-with-steam-and-increasing-harvests/|access-date=2021-04-20|website=www.theexplorer.no|language=en}}</ref> + +In 2016, SoilSteam was created. By 2021, the firm will have four devices in the field: three in Europe and one in California, as part of University of California-Davis study. By 2022, SoilSteam plans to have 18 devices operational, with the aim of scaling up as soon as possible.<ref name=":21" /><ref name=":22">{{Cite web|date=2020-03-19|title=About us|url=https://soilsteam.com/about-us/|access-date=2021-04-20|website=SoilSteam International|language=en-US}}</ref> + +The European Investment Bank's 2020 Social Innovation Tournament focuses on entrepreneurs whose ventures support society. SoilSteam was one of the finalists of this tournament.<ref name=":21" /><ref name=":22" /> + +Oystein Fredriksen treated his 12 hectares of carrot fields using SoilSteam International’s machine in the autumn of 2019, and found that the carrots had a longer shelf life than typical carrots. <ref name=":21" /> +----Sandunelu and Europlant, as small agricultural growers, benefited from the European Investment Bank scheme, which provides €120 million in financing to local businesses by intermediary banks in Moldova.<ref name=":23">{{Cite web|title=EU-Moldova agriculture programme helps face down COVID-19 economic effect|url=https://www.eib.org/en/stories/eu-moldova-agriculture-programme|access-date=2021-04-20|website=European Investment Bank|language=en}}</ref><ref>{{Cite web|title=Stories of the Fruit Garden of Moldova {{!}} Agriculture and Finance Consultants|url=https://www.afci.de/news/stories-fruit-garden-moldova|access-date=2021-04-20|website=www.afci.de}}</ref> + +Customers expressed a clear preference for packed vegetables as street markets were closed across Moldova during the pandemic, reducing the chance of virus spread. Over the pandemic, both firms saw substantial improvements in revenue because they were able to satisfy demand with innovative technologies for sorting and packaging, as well as ample vegetable storage capacity.<ref name=":23" /> + +Sandunelu, a carrot, onion, and beetroot grower, was awarded €492 000 by Mobiasbanca, which is backed by the European Investment Bank. Business consulting assistance was also given to the firm, which aided in the preparation of loan paperwork.<ref name=":23" /> + +Moldova is known for its grapes and walnuts, and is one of the top ten apple exporters in the world. However, because of the long-term emphasis on fruit, vegetables are often imported. <ref name=":23" /><ref>{{Cite web|last=eastfruit|date=2021-01-14|title=Horticulture of Moldova 2020: droughts, frosts, and low prices • EastFruit|url=https://east-fruit.com/en/horticulture-market/market-reviews/horticulture-of-moldova-2020-droughts-frosts-and-low-prices/|access-date=2021-04-20|website=EastFruit|language=en-US}}</ref> + +Europlant, a family-owned company, was founded by Radu Grosu. He received funds from the Garden of Moldova as well as a credit guarantee from the European Investment Bank for 50% of his debt. This guarantee protects loans to creative small companies under the InnovFin scheme at no further expense to the borrower.<ref name=":23" /><ref name=":24">{{Cite web|title=EU4Business: SanduNelu, a success story in times of crisis|url=https://issuu.com/euassistancemoldova2020/docs/eu_assistance_newsletter_iv_en/s/11353664|access-date=2021-04-20|website=issuu}}</ref> + +Sandunelu produces about 60% of the onions and carrots sold in Moldovan supermarkets.<ref name=":23" /><ref name=":24" /> + +Europlant, an onion and potato grower, received €720,000 from the European Union via ProCredit Bank for the building of a warehouse near Moldova's capital, Chisinau.<ref name=":25">{{Cite web|title=EU-Moldova agriculture programme helps face down COVID-19 economic effect|url=https://www.eib.org/en/stories/eu-moldova-agriculture-programme|access-date=2021-04-20|website=European Investment Bank|language=en}}</ref> + +The Moldovan horticulture industry, which is almost entirely made up of small and medium-sized enterprises, is supported by the Fruit Garden of Moldova scheme. The initiative is part of the European Union's assistance to Moldova, and it seeks to promote trade and economic growth, as well as agriculture and rural production.<ref name=":25" /> + +The Association Agreement between Moldova and the European Union, signed in 2014, includes the Deep and Comprehensive Free Trade Area (DCFTA), which lays the groundwork for Moldova's entry to the EU market for its goods and services.<ref name=":25" /> + +Shipments of preserved vegetables to the European Union rose by 455 percent between 2014 and 2016, while exports of Moldovan preserved fruits and nuts more than doubled, and chestnut sales nearly tripled. Between 2015 and 2019, the proportion of Moldovan exports to Europe increased from about 50% to 68 percent.<ref name=":25" /><ref>{{Cite web|title=Moldova - Trade - European Commission|url=https://ec.europa.eu/trade/policy/countries-and-regions/countries/moldova/|access-date=2021-04-20|website=ec.europa.eu}}</ref> +----PlasticFri focuses on environmental plastic waste. The inventors have developed a new form of biomaterial that resembles traditional plastic and is manufactured from renewable materials such as plant waste. This is entirely free of petroleum and can be produced using existing equipment to produce low-cost, non-toxic plastic goods such as cups, bags and wrapping film.<ref name=":26">{{Cite web|title=Plant-waste cups alternative to plastic, help solve pollution|url=https://www.eib.org/en/stories/plant-waste-cups|access-date=2021-04-20|website=European Investment Bank|language=en}}</ref><ref>{{Cite web|title=PRODUCTS|url=https://plasticfri.com/products-1.html|access-date=2021-04-20|website=plasticfri.com}}</ref> + +The PlasticFri products went into commercial production in 2020, and the substance has been certified as meeting European standard EN 13432, which states taht compostable plastics must disintegrate after 12 weeks and completely biodegrade after six months. <ref name=":26" /><ref>{{Cite web|last=EUBIO_Admin|title=What are the required circumstances for a compostable product to compost?|url=https://www.european-bioplastics.org/faq-items/what-are-the-required-circumstances-for-a-compostable-product-to-compost/|access-date=2021-04-20|website=European Bioplastics e.V.|language=en-US}}</ref> + +PlasticFri came in second place in the EIB Institute's 2020 Social Innovation Tournament, winning €20,000 to help them achieve their targets.<ref name=":26" /><ref>{{Cite web|title=Social Innovation Tournament’s 2020 Results|url=https://www.eib.org/en/press/all/2020-266-social-innovation-tournament-s-2020-results|access-date=2021-04-20|website=European Investment Bank|language=en}}</ref> + +One of the honors and recognitions the organization has earned in recent years is being named one of 1000 effective ways to preserve and protect the atmosphere by the Solar Impulse Foundation in July.<ref name=":26" /><ref>{{Cite web|last=Impulse|first=Solar|title=Solutions to protect the environment: aiming for 1000 Efficient Solutions|url=https://solarimpulse.com/efficient-solutions|access-date=2021-04-20|website=solarimpulse.com|language=en}}</ref><ref>{{Cite web|title=Seeking take-off with 1,000 clean tech solutions to fuel the globe {{!}} Reuters Events {{!}} Sustainable Business|url=https://www.reutersevents.com/sustainability/seeking-take-1000-clean-tech-solutions-fuel-globe|access-date=2021-04-20|website=www.reutersevents.com|language=en-GB}}</ref> + +Allen clarified that PlasticFri is cost-effective; its processing decreases CO2 emissions by up to 86 percent as compared to traditional plastic, and that a PlasticFri cup can be recycled, saving the value of the trees that were cut down to produce the paper and leading to a circular economy.<ref>{{Cite web|title=PRODUCTS|url=https://plasticfri.com/products-1.html|access-date=2021-04-20|website=plasticfri.com}}</ref><ref name=":26" /> +----Decades-old air monitoring stations are often big (about the size of a small van), costly, and scarce. Robert found that there were just 15 stations monitoring the air quality in his hometown of Hamburg, Germany, which has a population of 1.8 million inhabitants.<ref name=":27">{{Cite web|title=Cheap air pollution monitors help plot your walk|url=https://www.eib.org/en/stories/air-pollution-monitor|access-date=2021-04-20|website=European Investment Bank|language=en}}</ref> + +The scope of the air pollution crisis is enormous: 90 percent of the world's population breathes dirty air to some degree. Although the health consequences are important, the way the problem is handled is often haphazard.<ref name=":27" /><ref>{{Cite web|title=9 out of 10 people worldwide breathe polluted air, but more countries are taking action|url=https://www.who.int/news/item/02-05-2018-9-out-of-10-people-worldwide-breathe-polluted-air-but-more-countries-are-taking-action|access-date=2021-04-20|website=www.who.int|language=en}}</ref><ref>{{Cite web|title=Assessing the risks to health from air pollution — European Environment Agency|url=https://www.eea.europa.eu/publications/assessing-the-risks-to-health|access-date=2021-04-20|website=www.eea.europa.eu|language=en}}</ref> + +Breeze Technologies created tracking systems the size of a small water bottle that can be attached to a lamppost or a building's hand. By transferring data from the monitor to the cloud, Breeze Technologies was able to make their sensors 50 000 times smaller and 1000 times cheaper than a traditional air-quality monitoring station.Since monitors are small and inexpensive, they can be used in large numbers to form a network.<ref name=":27" /><ref>{{Cite web|title=Air Quality Sensors|url=https://www.breeze-technologies.de/air-quality-sensors/|access-date=2021-04-20|website=Breeze Technologies|language=en-US}}</ref><ref>{{Cite web|last=user_administrator|date=2018-05-11|title=Breeze Technologies, a most promising start-up!|url=https://ec.europa.eu/environment/ecoap/about-eco-innovation/business-fundings/breeze-technologies-most-promising-start_en|access-date=2021-04-20|website=Eco-innovation Action Plan - European Commission|language=en}}</ref> + +Breeze Technologies analyzes the data collected by its monitors in real time using artificial intelligence. In addition, the system recommends smart measures, such as traffic rerouting, to increase urban air quality as soon as possible. In addition, the organization has devices to track indoor air quality, as well as ventilation information solutions for health problems such as COVID-19.<ref name=":27" /><ref>{{Cite web|title=Air Quality Sensors|url=https://www.breeze-technologies.de/air-quality-sensors/|access-date=2021-04-20|website=Breeze Technologies|language=en-US}}</ref><ref>{{Cite web|last=user_administrator|date=2018-05-11|title=Breeze Technologies, a most promising start-up!|url=https://ec.europa.eu/environment/ecoap/about-eco-innovation/business-fundings/breeze-technologies-most-promising-start_en|access-date=2021-04-20|website=Eco-innovation Action Plan - European Commission|language=en}}</ref> + +Breeze Technologies was a finalist in the EIB Institute's 2020 Social Innovation Tournament, which encourages sustainable and social entrepreneurship through innovative thinking. Robert and Sascha were named to Forbes' list of 30 under 30 social entrepreneurs in 2018.<ref name=":27" /><ref>{{Cite web|title=Social Innovation Tournament’s 2020 Results|url=https://www.eib.org/en/press/all/2020-266-social-innovation-tournament-s-2020-results|access-date=2021-04-20|website=European Investment Bank|language=en}}</ref><ref>{{Cite web|url=https://www.forbes.com/consent/?toURL=https://www.forbes.com/30-under-30-europe/2018/social-entrepreneurs/|access-date=2021-04-20|website=www.forbes.com}}</ref> + +Breeze Technologies has developed a Citizen Portal that offers free air-quality updates to everyone who needs it, using data from its network of sensors as well as data from government agencies. Currently, coverage is restricted to many German cities, including Hamburg, Cologne, and Berlin, but Robert claims that as the company's network expands, so will the interactive map's coverage. The clients decide if they want to share the infromation coming from their sensors or not. <ref name=":27" /><ref>{{Cite web|title=Automated and Digital Industrial Immission Monitoring|url=https://www.breeze-technologies.de/solutions/industrial-immission-monitoring/|access-date=2021-04-20|website=Breeze Technologies|language=en-US}}</ref> +----Niger needs assistance to boost its water quality. Clean drinking water is scarce by global standards, with significant differences between urban and rural areas. In the UN Human Development Index, Niger is at the bottom. Drought and desertification affect many countries. Of course, clean water is important for a safe society and economy. 92 percent of the population lives in rural areas in the Tillabéri region along the western frontier, and there is a chronic scarcity of clean water, particularly during the hot season, when temperatures regularly exceed 40 degrees Celsius.<ref name=":28">{{Cite web|title=Fresh water in Niger undercuts violence, as well as offering better living conditions|url=https://www.eib.org/en/stories/niger-water-development|access-date=2021-04-20|website=European Investment Bank|language=en}}</ref><ref>{{Cite web|title=Water, Sanitation and Hygiene|url=https://www.unicef.org/niger/water-sanitation-and-hygiene|access-date=2021-04-20|website=www.unicef.org|language=en}}</ref><ref>{{Cite web|title=Delivering water and sanitation services in Niger: challenges and results|url=https://blogs.worldbank.org/water/delivering-water-and-sanitation-services-niger-challenges-and-results|access-date=2021-04-20|website=blogs.worldbank.org|language=en}}</ref> + +With the help of a donation fund from the Dutch government, the EIB is collaborating with the Niger water authority to find solutions to Niger's water issues. The World Bank identified Niger as one of the 18 fragile regions of Sub-Saharan Africa. The EU bank has a history of investing in regions like these. <ref name=":28" /><ref name=":29">{{Cite web|title=Niger: EIB finances drinking water supply project (EUR 21m)|url=https://www.eib.org/en/press/all/2018-099-la-bei-finance-un-projet-dalimentation-en-eau-potable-au-niger-21-meur|access-date=2021-04-20|website=European Investment Bank|language=en}}</ref> + +Just 40% of the 30,000 inhabitants in Téra, a city northwest of the country's capital of Niamey and near to the Burkina Faso border, have access to a working public water infrastructure.<ref name=":28" /><ref>{{Cite web|title=Niger - OECD|url=https://www.oecd.org/countries/niger/|access-date=2021-04-20|website=www.oecd.org}}</ref><ref>{{Cite web|title=Development Projects : Niger Basin Water Resources Development and Sustainable Ecosystems Management Project - P093806|url=https://projects.worldbank.org/en/projects-operations/project-detail/P093806|access-date=2021-04-20|website=World Bank|language=en}}</ref> + +Société de Patrimoine des Eaux du Niger (SPEN), Niger's water authority, opened ten boreholes and built a water treatment plant in 2018 to provide potable water to Téra and the surrounding areas. The water supply ran out about a year later, and the water treatment facility was forced to close.<ref name=":28" /><ref name=":29" /><ref name=":30">{{Cite web|date=2020-04-08|title=NIGER: Goudel IV drinking water plant to be operational in July 2020|url=https://www.afrik21.africa/en/niger-goudel-iv-drinking-water-plant-to-be-operational-in-july-2020/|access-date=2021-04-20|website=Afrik 21|language=en-US}}</ref> + +The European Investment Bank and the Niger Water Authority are looking at two options for dealing with Téra's water shortages. The first choice is to repair the water tank on the outskirts of town. Another choice is to treat and transport water from the Niger River, which is located more than 100 kilometers to the east. Villages between Téra and the Niger River will also have access to sewage.The Bank will also look at renewable energy as a way to save costs.<ref name=":28" /><ref name=":30" /> '