Vienna signs climate deal with the EIB
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The European Investment Bank (EIB) and the City of Vienna have signed a “Joint Declaration on a Climate Partnership” designed to intensify their cooperation to combat climate change. Future housing, energy, waste and mobility projects envisaged by the city will be assessed based on their contribution to the protection of the environment and will in advance be considered for EIB funding.
This is the first partnership which the EU’s climate bank has signed with a major European city. Last year, the EIB, which plays a crucial role in the “Green Deal” unveiled by EU Commission President Ursula von der Leyen, decided to align all financing activities with the objectives of the Paris climate agreement.
Andrew McDowell, EIB’s VP for energy policy, welcomed the new partnership with Vienna, stressing that the agreement was a signal for other cities in Europe.
In the past, the city of Vienna and the EIB have already implemented several climate change projects with a total volume of over EUR1bn, in particular when it comes to energy efficiency measures for municipal housing. With its new smart city strategy, Vienna wants to cut greenhouse gas emissions per capita by 50 percent by 2030 compared to 2005 levels and by 85 percent by 2050.