IOGP response to the EIB Group’s Climate Bank Roadmap 2021-2025

May 2020

This document provides IOGP’s response to the EIB Group’s Climate Bank Roadmap 2021-2025.

IOGP recommends the EIB Group to set the financial support framework for innovative projects (including infrastructure) based on decarbonised or low-carbon/low-emission fuels, such as hydrogen, biogas and blends of gases for electricity and heating generation (including CHP).

Key Points

  • The low-carbon transition of European industries should be a priority for the EIB, in particular the development of pre-commercial technologies enabling the industrial transformation – such as Carbon Capture Use and Storage (CCUS) and hydrogen solutions – will be key
  • The principles of technology neutrality a Life Cycle Analysis (LCA) should guide the development of the EIB Climate Bank Roadmap 2021-2025
  • Transition technologies using natural gas should not be overlooked
  • Facilitating the transition of companies to less carbon-intensive activities should be a priority of the EIB Climate Bank Roadmap 2021-2025

Overview

The document outlines IOGP’s recommendations on the following topics:

  • Financing activities for the low-carbon transition of industry
  • Support for early-stage, pre-commercial emissions abatement technology development
  • Leaving no one behind
  • Leveraging private sector finance and promoting financial innovation
  • Measuring the long term effect of EIBs operations

Author

IOGP

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