European Investment Bank Reaches Milestone with Over EUR 100 Billion in Sustainability Funding Through New Climate Awareness Bond

European Investment Bank Reaches Milestone with Over EUR 100 Billion in Sustainability Funding Through New Climate Awareness Bond

(IN BRIEF) The European Investment Bank (EIB) has achieved a major milestone by surpassing EUR 100 billion in sustainability funding through its Climate and Sustainability Awareness Bonds (CABs and SABs). This achievement was marked by the issuance of a heavily oversubscribed EUR 5 billion, 10-year Climate Awareness Euro Area Reference Note (EARN), which attracted over EUR 34.5 billion in demand. The bond will support projects aligned with the EU Taxonomy, furthering EIB’s leadership in the global sustainable finance sector. A celebration of this milestone is planned at the Luxembourg Stock Exchange in October.

(PRESS RELEASE) LUXEMBOURG, 29-Aug-2024— /EuropaWire/ — The European Investment Bank (EIB) has marked a significant achievement in its sustainability efforts by surpassing EUR 100 billion in cumulative funding through its Climate and Sustainability Awareness Bonds (CABs and SABs). This milestone was reached following the issuance of a new EUR 5 billion 10-year Climate Awareness Euro Area Reference Note (EARN), which was heavily oversubscribed, attracting over EUR 34.5 billion in demand.

Announced on August 27 and priced the following day, this latest bond issuance is a testament to the strong investor confidence in EIB’s commitment to financing projects that support the green transition. The bond, which will mature on September 4, 2034, offers an annual coupon of 2.625% and was issued with a re-offer spread of mid-swaps +26bps. The success of this issuance brings EIB’s total funds raised in 2024 to approximately EUR 56.2 billion, nearing its annual borrowing target of EUR 65 billion.

As the largest multilateral development bank issuer of green and sustainability bonds, the EIB has been at the forefront of the sustainable finance movement since launching the green bond market in 2007. The bank’s issuance of CABs and SABs, now exceeding EUR 100 billion across 23 currencies, reflects its ongoing dedication to supporting projects that contribute to environmental and social objectives.

EIB President Nadia Calviño highlighted the significance of this milestone, stating, “The 100 billion Euros mark that we celebrate today symbolizes the phenomenal development of the Sustainable Bond Market since the EIB pioneered issuance in 2007. Capital markets play a key role in the green transition towards a sustainable economy – and the EIB will continue to support it via its financing and borrowing activities.”

The funds raised through this and other CABs are allocated in accordance with the EU Taxonomy, ensuring that they contribute meaningfully to climate and sustainability goals. The EIB’s commitment to aligning its bonds with the latest EU sustainable finance regulations underscores its leadership in the sector.

The EIB plans to celebrate this achievement with a special event at the Luxembourg Stock Exchange in October, where the bonds are listed, further cementing its role as a leader in the global sustainable finance landscape.

Media Contact:

Investor Relations
investor.relations@eib.org
+352 43 79 – 53000

SOURCE: European Investment Bank